Monetary Policy in Uzbekistan: Current Status, Challenges, and Prospects

This article examines key aspects of the monetary policy of the Republic of Uzbekistan amid accelerated economic growth and inflationary pressures. It analyzes the Central Bank’s instruments, the dynamics of the key interest rate, inflation targeting, and the banking sector’s lending activity for the period 2022–2025. Recommendations are proposed to improve the effectiveness of the monetary policy transmission mechanism and achieve the inflation target of 5%.