NORMATIVE AND LEGAL BASIS AND LEGISLATIVE MECHANISMS OF MONETARY POLICY IMPLEMENTATION IN UZBEKISTAN

Abstract

This article scientifically analyzes the regulatory and legal framework for conducting monetary policy in the Republic of Uzbekistan and the legislative mechanisms for its implementation. The study covers the content and significance of the main regulatory and legal documents regulating monetary policy, in particular, the Constitution of the Republic of Uzbekistan, the Law "On the Central Bank of the Republic of Uzbekistan", the Law "On Banks and Banking Activities", and the regulatory documents of the Central Bank. It also assesses the powers of the Central Bank to ensure price stability, curb inflation and effectively use monetary policy instruments, and the impact of current legislation on the effectiveness of monetary policy. Based on the experience of foreign countries and a comparative analysis of national practice, scientific proposals and practical recommendations have been developed to further improve the legal framework for monetary policy in Uzbekistan, strengthen the institutional independence of the Central Bank, and develop legislative mechanisms for implementing monetary policy.