Uzbekistan, Bank of Korea Launch Monetary Policy Study

Tashkent, Uzbekistan (UzDaily.uz) — The Central Bank of Uzbekistan and the Bank of Korea have launched a new joint research project under the Knowledge Partnership Program (KPP).

The two sides signed a bilateral agreement to conduct a study aimed at improving the effectiveness of the monetary policy transmission mechanism.

The project focuses on the role of floating interest rate instruments in strengthening the transmission of monetary policy decisions to the economy.

The first phase of the programme included a research seminar attended by representatives of the Bank of Korea and professors from the Asian Research Center (ARC). Participants discussed the use of floating interest rate instruments in central bank operations, their impact on financial stability, and empirical analysis of the monetary policy transmission mechanism under external shocks.

The experts also examined the assessment of monetary policy transmission channels as the use of floating interest rate instruments expands and exchanged international experience in this area.

During the second phase of the visit, representatives of the Central Bank of Uzbekistan, the Bank of Korea and professors from the Asian Research Center identified the main directions for future work.

The participants agreed on the key research questions, the scope and composition of the data to be used in the analysis, and discussed the next steps required for the successful implementation of the joint project.