Azerbaijani Central Bank leaves base rate unchanged
The Central Bank of Azerbaijan (CBA) has decided to leave the base rate unchanged at the level of 7.75 percent, on July 29, Trend reports citing CBA.
The upper limit of the interest corridor remained at the level of 9.25 percent, and the lower limit at 6.25 percent.
"The influence of both downward and upward factors on actual and projected inflation has been observed since the last meeting of CBA, which was devoted to monetary policy,” the bank said.
“Strengthening of nominal effective exchange rate of Azerbaijani manat (national currency) as a result of an additional depreciation of national currencies in some partner countries, decrease in indicators characterizing the dynamics of world food prices in June, supply and logistics costs are the factors that have a restraining effect on inflation,” CBA noted.
“The expansion of total demand may create conditions for the transfer of increased spending in recent years to domestic inflation,” CBA added.
"It is expected that macroprudential decisions taken in order to effectively regulate lending activity will also have a downward effect on total demand. The inflation forecast remained almost unchanged in the context of the multilateral influence of various factors,” Azerbaijani Central bank added.
It is expected that inflation will be below the current level by the end of 2022, while its current dynamics will continue.
Kremlin says Putin-Pashinyan talks 'necessary and expected'
08 May 2024 / 13:09
Vladimir Putin’s inauguration kicks off in Moscow
07 May 2024 / 14:29
Putin and Pashinyan to hold "very important negotiations" on May 8
07 May 2024 / 14:23
Armenian, Azeri FMs to meet on May 10
06 May 2024 / 13:06
Pashinyan will not attend Putin's inauguration, Armenia parliament speaker says
06 May 2024 / 12:59
Azerbaijan hosts World Forum on Intercultural Dialogue
01 May 2024 / 13:38
63 people detained during Tbilisi protest
01 May 2024 / 13:32
Armenia’s Pashinyan spills water on his desk, clothes to explain what he is doing in Tavush Province
30 April 2024 / 13:25
Armenia, Azerbaijan FMs to meet in Kazakhstan
29 April 2024 / 13:40
Aram I: Mr. Erdogan, our ancestors were massacred by your ancestors, don't try to oppose diaspora to Armenia
24 April 2024 / 14:20
Azerbaijan and Armenia start border delimitation process
23 April 2024 / 11:38
Armenia premier: Our society asks why we continue to be member state of CSTO?
23 April 2024 / 11:30
Ilham Aliyev on his way to Moscow for talks with Vladimir Putin
22 April 2024 / 10:39
German Foreign Ministry reacts to agreement between Armenia and Azerbaijan on border delimitation
22 April 2024 / 10:32
Is Pashinyan going to attend Putin's inauguration?
17 April 2024 / 14:40