interest rates
US mortgage rates ease to 7.32% but remain above last year
The average 30-year mortgage rate eased over the week. On a hypothetical $300,000 loan, the change reduces principal-and-interest payments by about $16.
CBA note yield: approaching the spring level amid increased volume
The yield on 28-day CBA notes at the 14.10.2026 auction was 6.44% — close to the start of the series but above it, although within the period it passed through both a peak and a minimum.
AZIR near the lower bound: the gap between the overnight market and CBA notes
AZIR at 5.8% on 15.10.2026 holds near the lower bound of the 5.0% corridor, while 28-day CBA notes yielded 6.44%: two instruments of the same regulator are priced differently.
Overnight Rate Rose, Note Yields Fell: Two Money Market Segments Diverged
AZIR rose to 5.8757% on October 8, 2026, from 5.7632%, while the yield on the CBA's 28-day notes at the October 7 auction fell to 6.47% from 6.5% a week earlier.
CBA Notes: Absorption Increased, but Short-Term Money Did Not Get More Expensive
The outstanding balance of CBA notes in circulation rose from 525.5 million manats in July to 1733 million in October, while note yields and the AZIR rate remained below previous highs.
AZIR is cheaper than the policy rate, but not at the lower bound of the corridor
The one-day interbank rate AZIR on 7 October 2026 was 5.7632% — below the CBA policy rate of 6.5%, but above the lower bound of the corridor of 5.0%.
CBA Note Yields: The Price of Liquidity Versus the Volume of Sterilization
The yield on 28-day CBA notes fell to 6.47% at the auction on 07.10.2026, while the volume of notes in circulation rose to 1733 million manats — the two series are moving in opposite directions.
AZIR and CBA notes: two short-money benchmarks diverge
The one-day interbank rate AZIR remains above the lower bound of the corridor, while the yield on 28-day CBA notes has come in below the policy rate — these are different benchmarks for the short manat.
CBA notes: rising absorption with a more expensive instrument
The outstanding balance of CBA notes in circulation rose from 503.8 million manats in July to 1758 million as of 01.10.2026, while the yield on 28-day notes returned to 6.5% — the volume of absorption and its price are moving in the same direction.
CBA 28-day note yield at 6.5%: what this means for short-term liquidity
The yield on CBA 28-day notes at the September 30 auction was 6.5% versus 5.63% at the end of July. We examine why this does not prove policy tightening and what to check at the next auctions.
CBA corridor floor lowered to 5%, but interbank rate stays above it
The CBA lowered the lower bound of the corridor from 5.5% to 5% effective 24 September 2026, while the policy rate and the upper bound in the data remain unchanged — the corridor is changing asymmetrically.
CBA rate remains 6.5%, but food inflation is 7.2%
The CBA kept its policy rate at 6.5% and lowered the lower bound of the corridor to 5%, while food inflation in August 2026 reached 7.2% year on year.
CBA 28-day note yield rose to 6.56% with sterilization volume of 1,802.5 million manats
The auction on September 16, 2026 gave 6.56% versus 6.26% a week earlier and 5.63% at the end of July — the price of short liquidity in manats is again higher than in mid-summer.
AZIR below the policy rate: what this means for short-term funding
The upper bound of the CBA corridor is 7.5%, the policy rate is 6.5%, and the one-day interbank AZIR rate had fallen to 5.8077% by September 17, 2026.
CBA notes in circulation rose noticeably, while money market rates behaved differently
The outstanding balance of CBA notes in circulation rose from 483.8 million manats in June to 1802.5 million manats in September, while note yields and the interbank rate moved unevenly.
CBA Rate Unchanged, But Monetary Policy Is Not Standing Still
Behind the 6.5% rate lies a balance between inflation risks and excess foreign exchange supply. Why CBA operations are no less important for understanding money market conditions.
Armenia's Central Bank Raises Key Rate to 6.75%
At its meeting on September 15, 2026, the Board of the Central Bank of Armenia raised the key rate by 25 basis points to 6.75%.
Precious Metals Prices Stabilize as Gold Futures Rebound Above $4,200
Gold prices stabilized as traders weighed signs of progress in Middle East diplomacy.
ECB Expects Prolonged Elevated Inflation in Eurozone
Inflation in the eurozone may remain above the 2% target for 'some time'.