The bank said that the decision was adopted in line with the set macroeconomic figures for 2013, including inflation rate, and in order to ensure stability of resource base of commercial banks.

Last time, Central Bank of Uzbekistan changed refinancing rate on 1 January 2011. The bank cut refinancing rate from 14% to 12% APR.

On 18 January 2013, at the session of the government, Uzbek President Islam Karimov said that the refinancing rate of Central Bank will be kept at 12% APR.