CBA held a meeting – discount rate kept

11:57 - 29.07.2022


July 29, Fineko/abc.az. The Central Bank of Azerbaijan has kept the discount rate at the level of 7.75%.

ABC.AZ reports that according to the CBA, the lower threshold of the interest rate corridor is maintained at 6.25% and the upper one is 9.25%.

The CBA keeps the discount rate at 7.75% for the third time in a row.

The Bank emphasizes that the decision to maintain the discount rate was made taking into account the fact that the nominal effective exchange rate of the manat is strengthening against the background of cheaper national currencies of the main partner countries of Azerbaijan, the dynamics of food prices on world markets, transport and logistics costs affecting the reduction of inflation.

"However, the expansion of aggregate demand may become a factor in the growth of domestic inflation. Effective regulation of credit activity, in turn, will affect the decline in aggregate demand," the CBA emphasizes.

According to CBA estimates, while maintaining the current dynamics of inflation, its level at the end of 2022 will be lower than current indicators (12.9% at the end of June 2022).

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