The next decision of the Central Bank of Azerbaijan (CBA) on the parameters of the interest rate corridor will be published on September 23, the CBA has announced.
It was noted that decisions on the interest rate corridor for the remainder of the current year will also be made taking into account the inflation forecast and the dynamics of macroeconomic indicators.
"Given the uncertainties in the global environment, macroeconomic forecasts will be considered under several scenarios. When making decisions on the interest rate corridor parameters, processes in the foreign exchange market and the dynamics of liquidity in the banking sector will also be taken into account. In particular, the persistence of pressure toward appreciation of the manat and the scale of excess foreign currency will be taken into consideration when making decisions," the statement said.
It should be noted that on July 31, by decision of the Board of the Central Bank of the Republic of Azerbaijan, all parameters of the interest rate corridor were kept unchanged. The discount rate was maintained at 6.5 percent. The lower bound of the interest rate corridor was set at 5.5 percent, and the upper bound at 7.5 percent.
