On June 29, the Central Bank of Uzbekistan organized the first international forum 'Monetary Policy Dialogue — 2026' in Tashkent. The event brought together heads of central banks, representatives of international financial institutions, and economists.

The forum discussed monetary policy amid global economic uncertainty, structural changes, and digital transformation. Key topics included inflation targeting, price stability, inflation expectations, and communication strategies.

Cedric Tille, professor at the Geneva Graduate Institute, described the global economic situation as 'uncertainty, resilience, and unevenness.' He emphasized the importance of central bank independence, scenario analysis, and communication.

Athanasios Orphanides, professor at MIT Sloan School of Management and former governor of the Central Bank of Cyprus, highlighted the benefits of inflation targeting. He noted the 5% inflation target for Uzbekistan and the crucial role of central bank independence.

Bo Li, Deputy Managing Director of the IMF, addressed inflation expectations and trust in central banks. He recommended that developing countries take immediate action when inflationary pressures arise, rather than waiting for expectations to become unanchored.

Source: www.gazeta.uz