15:45 - 26.12.2018

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December 26, Fineko/abc.az. The Central Bank of Azerbaijan (CBA) announced the preservation of the level of accounting rate.

The CBA reports that the Bank’s Board made a decision to keep the rate at the level of 9.75%.

"The upper and lower level of the interest rate corridor is set at +/-2%, i.e. the upper level is 11.75% and the lower level 7.75%," Rustamov said.

The decision came into force today at 2 pm.

"The preservation of the rate at 9.75% is explained by uncertainty in foreign markets. In the future, the reaction of monetary policy will depend on the dynamics of inflation and stability," the CBA said.

On 30 October the CBA reduced the accounting rate from 10% to 9.75% and on 12 February from 15% to 13%. On 9 April, the rate was reduced from 13% to 11%. By Bank's decision from 14 June the rate was reduced from 11% to 10%. On 1 August, the CBA decided to hold the rate at the level of 10%.