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Central Bank of Azerbaijan increased discount rate

03 May 2023 10:02 (UTC +04:00)

By the decision of the Management Board of the Central Bank of Azerbaijan (CBA), the discount rate was increased, APA-Economics reports citing the CBA.

The interest rate was increased by 0.25 percentage points to 9%, the lower limit of the interest corridor by 0.5 percentage points to 10%, and upper limit of the interest corridor by 0.25 percentage points to 10%.

The Central Bank will make its next decisions regarding monetary policy, taking into account the deviation level of the dynamics of actual and expected inflation, internal and external inflation risks. In response to risks in the inflationary environment, the Central Bank will continue to try to limit inflation through monetary conditions. Factors that increase inflation will continue to be closely monitored.

This decision comes into force on May 4, 2023.