CBU cuts refinancing rate to 9% APR

05/01/2015 5:45 pm

(UzDaily.com) -- Central Bank of Uzbekistan is decreasing refinancing rate by 1 percentage point to 9% APR from 1 January 2015, the regulator said in a statement.

The Board of the Central Bank of Uzbekistan adopted a decision on decreasing the rate of refinancing rate from 10% to 9% APR from 1 January 2015, the statement reads.

The decision was adopted based on forecasts of inflation level for 2015 and to stimulate high tempo of economic growth, as well as increasing investment activities in real sector of economy.

Last time, Central Bank of Uzbekistan changed refinancing rate on 1 January 2014. The bank cut refinancing rate from 12% to 10% APR.