17:49 - 28.10.2022

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October 28, Fineko/abc.az. Since the last meeting, there have been a number of changes in monetary conditions that will strengthen the restraining effect on inflation, ABC.AZ reports with reference to CBA’s extended statement on changes in the parameters of the interest rate corridor.

The equilibrium in the foreign exchange market and the growth of the nominal effective exchange rate continue to restrain inflationary pressure.

Since the last meeting, there has been an increase in the rate of strengthening of the nominal effective exchange rate of the manat.

Thus, the rate of strengthening of the nominal effective exchange rate of the manat for 9 months increased to 7.5%.

Starting from this September, introduction of instruments of permanent reserves, the beginning of the storage of mandatory reserves by banks in accord with the new standards and activation of operations for the sterilization of banknotes in denominations of 1, 3, 6 and 9 months, starting from the beginning of October, are aimed to reduce inflationary pressure due to monetary conditions.