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Commonwealth of Independent States

Uzbekistan

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CIS‑4 FX buoyed by inflows while CPI risks hit the rates outlook
Armenia Azerbaijan
15 May, 09:10

CIS‑4 FX buoyed by inflows while CPI risks hit the rates outlook

Monthly macro update on Armenia, Azerbaijan, Kazakhstan, Uzbekistan as continued tensions in the Middle East lead to higher commodity prices

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THINK team Uzbekistan

Dmitry Dolgin
Dmitry Dolgin

Chief Economist, CIS

Egor Fedorov
Egor Fedorov

Senior Credit Analyst

James Wilson
James Wilson

EM Sovereign Strategist

Uzbekistan policy rate on hold, with cuts possible but distant
Quick take
Uzbekistan
29 April

Uzbekistan policy rate on hold, with cuts possible but distant

Review of the Uzbekistan central bank policy rate decision

CIS-4: new global scenarios further reshape the outlook
Armenia Azerbaijan
16 April

CIS-4: new global scenarios further reshape the outlook

Armenia, Azerbaijan, Kazakhstan and Uzbekistan amid continued tensions in the Middle East

Most read

    Armenia Azerbaijan
    15 May, 09:10

    CIS‑4 FX buoyed by inflows while CPI risks hit the rates outlook

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CIS macro and credit: Commodity buffers cushion Middle East risks
Report
Armenia Azerbaijan
31 March

CIS macro and credit: Commodity buffers cushion Middle East risks

Uzbekistan holds rates steady, takes a more hawkish tone on external risks
Quick take
Uzbekistan
18 March

Uzbekistan holds rates steady, takes a more hawkish tone on external…

An upbeat start to the year for the CIS-4
Armenia Azerbaijan
30 January

An upbeat start to the year for the CIS-4

Kazakhstan slows, Uzbekistan may surprise: 3 calls for CIS
Armenia Azerbaijan
4 December

Kazakhstan slows, Uzbekistan may surprise: 3 calls for CIS

CIS-4 remains a strong regional play
Armenia Azerbaijan
9 October 2025

CIS-4 remains a strong regional play

CIS-4: fundamentals and sentiment remain largely positive
Armenia Azerbaijan
11 September 2025

CIS-4: fundamentals and sentiment remain largely positive

Think Ahead: US inflation data unlikely to block a rate cut
United States Czech Republic Hungary
5 September 2025

Think Ahead: US inflation data unlikely to block a rate cut

Divergent oil and gold prices are shaping the CIS-4’s economic path
Armenia Azerbaijan
10 July 2025

Divergent oil and gold prices are shaping the CIS-4’s economic path

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