MARKAZIY BANK PUL-KREDIT SIYOSATI VA INFLYATSIYAGA QARSHI CHORALAR: MARKAZIY OSIYO DAVLATLARI MISOLIDA QIYOSIY TAHLIL
Keywords:
Kalit so'zlar: markaziy bank, pul-kredit siyosati, inflyatsiya, asosiy stavka, inflyatsion taqliddi, transmission mexanizm, makroprudensial siyosat, Markaziy Osiyo, monetar instrumentlar.Abstract
Annotatsiya
Ushbu maqolada Markaziy Osiyo mintaqasidagi besh davlat — O'zbekiston,
Qozog'iston, Qirg'iziston, Tojikiston va Turkmaniston markaziy banklarining pul-
kredit siyosati instrumentlari, ularning amaliy qo'llanilishi va inflyatsiyaga qarshi
choralari qiyosiy tahlil qilingan. Tadqiqotda 2024–2026 yillar oralig'idagi
makroiqtisodiy ko'rsatkichlar — asosiy (qayta moliyalashtirish) stavkasi, iste'mol
narxlari indeksining dinamikasi, valyuta kursi rejimlari va prudensial choralar nuqtai
nazaridan o'rganilgan. Tahlil shuni ko'rsatdiki, mintaqaning to'rt davlati inflyatsion
taqliddi (inflation targeting) rejimini qabul qilgan bo'lsa, Turkmaniston qattiq valyuta
kursi rejimini saqlab kelmoqda. Inflyatsiyaning eng yuqori darajasi (11–12 foiz)
Qozog'iston va Qirg'izistonda kuzatilmoqda, eng pasti esa Tojikistonda (taxminan 3,5
foiz) qayd etilgan. Maqolada har bir davlatning pul-kredit siyosatining samaradorligini
belgilovchi institutsional, strukturaviy va tashqi omillar tahlil qilinib, mintaqa
darajasidagi muvofiqlashtirilgan choralar zarurligi asoslangan.
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