According to the Central Bank of Azerbaijan, since the beginning of the year the monetary base in the country has grown by more than 8%. "In the absence of credit activity, the growth of the monetary base is accompanied by the accumulation of excess liquidity in the banking sector."
The CBA also notes that against the background of high liquidity in the banking sector, there is a greater demand for sterilization tools. According to CBA estimates, the real rate on liquid operations remains at the level that can stimulate the accumulation in the national currency.
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