Baku, Azerbaijan, Aug. 1
By Fikret Dolukhanov – Trend:
In the 2Q2018, the volume of foreign exchange interventions by the Central Bank of Uzbekistan (CBU) amounted to $300 million, the CBU stated.
The report of the CBU “Monetary Policy Review” reads that the volume of foreign exchange interventions by the CBU amounted to $600 million in the 1Q2018.
The volume of interventions halved in the second quarter, which led to the emergence of additional unsterilized liquidity in the banking system.
The CBU earlier reported that the refinancing rate had been left unchanged at 14 percent per annum.
“This decision is aimed at strengthening the downward trend in consumer price growth and maintaining the comparative attractiveness of deposits in the national currency amid persisting potential risks of increasing inflationary pressures during the period of structural changes,” the CBU message said.
The CBU will continue to monitor the actual and expected changes in monetary conditions under the influence of various factors and, accordingly, respond to the emerging inflationary risks.
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