{"id":8829,"date":"2025-09-12T11:27:09","date_gmt":"2025-09-12T06:27:09","guid":{"rendered":"https:\/\/frank.uz\/bez-kategorii\/the-increase-in-transfers-investments-and-loans-supports-the-economy-despite-inflationary-pressures-cb\/"},"modified":"2025-09-12T11:27:09","modified_gmt":"2025-09-12T06:27:09","slug":"the-increase-in-transfers-investments-and-loans-supports-the-economy-despite-inflationary-pressures-cb","status":"publish","type":"post","link":"https:\/\/frank.uz\/en\/news-en\/the-increase-in-transfers-investments-and-loans-supports-the-economy-despite-inflationary-pressures-cb\/","title":{"rendered":"The increase in transfers, investments, and loans supports the economy despite inflationary pressures \u2014 CB"},"content":{"rendered":"<p><strong>Why is this important<\/strong><\/p>\n<p>Support from consumption, investment, and transfers boosts aggregate demand but also raises inflationary risks. Despite steady growth, the Central Bank states that a tight monetary policy will stay in place due to <strong>8.8% inflation<\/strong> and sensitive fuel prices. The ongoing strengthening of the deposit base alongside the growth of private investments suggests a gradual transformation of the financial system.  <\/p>\n<p><strong>Key facts<\/strong><\/p>\n<p><span style=\"text-decoration: underline;\">Growth of the economy and investments<\/span><\/p>\n<ul>\n<li>The economy expanded by <strong>7.2%<\/strong> during the first half of 2025.<\/li>\n<li>\u041f\u0440\u044f\u043c\u044b\u0435 \u0438\u043d\u043e\u0441\u0442\u0440\u0430\u043d\u043d\u044b\u0435 \u0438\u043d\u0432\u0435\u0441\u0442\u0438\u0446\u0438\u0438 \u0434\u043e\u0441\u0442\u0438\u0433\u043b\u0438 <strong>$5,1 \u043c\u043b\u0440\u0434<\/strong> (+37% \u0433\/\u0433).<\/li>\n<li>Non-centralised investments increased by <strong>6.6%<\/strong>, while centralised investments declined by <strong>3.7%<\/strong>.<\/li>\n<\/ul>\n<p><span style=\"text-decoration: underline;\">Cross-border transfers<\/span><\/p>\n<ul>\n<li>The volume of transfers in January-August amounted to <strong>$12.1 billion<\/strong>, a <strong>23%<\/strong> increase.<\/li>\n<li>The balance of foreign exchange transactions of the population: <strong>+5.6 billion<\/strong>, <strong>1.4 times<\/strong> higher than a year earlier.<\/li>\n<\/ul>\n<p><span style=\"text-decoration: underline;\">Inflation and rate<\/span><\/p>\n<ul>\n<li>Total inflation in August stood at <strong>8.8%<\/strong>, with core inflation at <strong>7.6%<\/strong>.<\/li>\n<li>The Central Bank&#8217;s main interest rate stays at <strong>14%<\/strong> per year.<\/li>\n<\/ul>\n<p><span style=\"text-decoration: underline;\">Banking sector<\/span><\/p>\n<ul>\n<li>Loans were issued for <strong>249 trillion soums<\/strong> (+40% per year).<\/li>\n<li>The remaining deposits totalled <strong>262.6 trillion soums <\/strong>(+34%).<\/li>\n<li>Term deposits of individuals in national currency: <strong>+45%<\/strong>, up to <strong>67 trillion soums<\/strong>.<\/li>\n<\/ul>\n<p><strong>What they say<\/strong><\/p>\n<ul>\n<li>The Central Bank notes the growth of <strong>inflationary expectations<\/strong> against the backdrop of AI-80 discontinuation and continued high consumption.<\/li>\n<li>The rejection of low-octane fuel is a contributing factor to short-term price increases.<\/li>\n<li>Simultaneously, a stable exchange rate, a rise in transfers, and an increase in deposits offset monetary risks.<\/li>\n<\/ul>\n<p><strong>Context<\/strong><\/p>\n<p>Reducing inflation is a key goal of macroeconomics. But in the context of active lending and increased transfers, additional instruments are required to sterilize excess liquidity. Supporting international reserves, currency stability, and inflation targeting remains at the center of the Central Bank&#8217;s policy. The reorientation of investments from the public sector to the private sector and the growth of FDI is an important shift in the structure of capital investments.   <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Amid high domestic activity, the Central Bank kept a key interest rate of 14% while supporting growth in transfers, lending, and foreign direct investment.<\/p>\n","protected":false},"author":4,"featured_media":8821,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_sharing_image":[],"_sharing_image_fieldset":[],"pin_until":"","footnotes":""},"categories":[2061],"tags":[2212,2081,2261,2118,2154,2143,2511],"class_list":["post-8829","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en","tag-banks","tag-cb","tag-credits","tag-economics","tag-inflation","tag-investments","tag-money-transfers"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.0 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The increase in transfers, investments, and loans supports the economy despite inflationary pressures \u2014 CB &#8212; 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