Monetary policy
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.
Azerbaijan's Central Bank Confirms Inflation Forecast for 2026–2027
The Central Bank of Azerbaijan maintains its average annual inflation forecast at 6.1% for 2026 and 5.8% for 2027, according to Governor Taleh Kazimov.
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.
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%.
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 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.
Azar Alaskarov Appointed Director General of Central Bank of Azerbaijan
Azar Alaskarov, Director of the CBA's Monetary Policy Department, has been appointed Director General of the institution. He replaces Vugar Ahmadov, who resigned in August.
Azerbaijan's Monetary Base Rises to 24.8 Billion Manats
As of October 1, Azerbaijan's monetary base stood at 24 billion 817.9 million manats, up 2.4% month-on-month and 10.4% since the start of the year.
Azerbaijan's Central Bank Moves Rate Decision to October 29
Azerbaijan's Central Bank will announce its interest rate corridor decision on October 29 instead of November 4. The press conference has also been rescheduled.
Azerbaijan's Central Bank Keeps Policy Rate at 6.5%
The Central Bank of Azerbaijan left its policy rate unchanged at 6.5%, lowering the lower bound of the interest rate corridor to 5% while keeping the upper bound at 7.5%.
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 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%.
China's Central Bank: Yuan Loans Grew by 10.44 Trillion Yuan in Eight Months
The People's Bank of China reported that yuan lending rose by 10.44 trillion yuan in January–August 2026. The regulator intends to maintain a moderately loose policy in the second half of the year.
Volume of CBA notes exceeds 1.5 billion manats for first time in 10 months
The value of Central Bank of Azerbaijan notes in circulation exceeded 1.5 billion manats for the first time since October 2023.
Volume of CBA Notes in Circulation Exceeds 1 Billion Manats
The value of Central Bank of Azerbaijan notes in circulation exceeded 1 billion manats for the first time since July 24, 2024, reaching 1.07 billion manats as of August 13.
Central Bank Explains July Ruble Weakness by Falling Exports and Demand from Certain Participants
The Bank of Russia linked the ruble's weakening in July to deteriorating trade conditions and unusual behavior by some market participants.
PBOC Publishes Reform Plan for 2026-2030
The People's Bank of China has unveiled a financial system development plan for 2026-2030, aimed at improving monetary policy and supporting the real economy.
Central Bank Keeps Interest Rate Corridor Parameters Unchanged
The Central Bank's Board of Directors decided to keep the interest rate corridor parameters unchanged, balancing inflation and foreign exchange market factors.
ING Forecasts Central Bank of Azerbaijan to Hold Key Rate at 6.5% Through 2026
The Central Bank of Azerbaijan is expected to keep its key rate at 6.5% throughout 2026, according to analysts at Dutch financial group ING.
CBA Confident Inflation Will Stay Within Target Range
Annual inflation in Azerbaijan remains within the target range (4% plus/minus 2%) and is developing in line with the baseline scenario forecast, but external inflationary risks continue to intensify.
Central Bank of Azerbaijan Moves Up Next Interest Rate Decision Date
The Central Bank of Azerbaijan has rescheduled the next decision on interest rate corridor parameters and the press conference from August 5 to July 31.
Central Bank of Azerbaijan Holds Key Rate Steady
The Board of the Central Bank of Azerbaijan decided to keep the discount rate at 6.5 percent.