(MENAFN- AzerNews)
Qabil Ashirov read more The Central Bank of Azerbaijan (CBA) has risen the interest rate
taking into account the external and internal factors that affect
inflation, Azernews reports, citing the bank.
The CBA has raised the interest rate by 0.25 percent to 8.5
percent. Thus, the upper limit of the interest rate corridor was
raised to 9.5 percent, meanwhile, the lower limit to 6.75
percent.
“The tightening of the monetary policy by most countries also
affects the actual and expected dynamics of global economic
activity. The fact that the international conjuncture remains
favorable for Azerbaijan in terms of the balance of payments, as
well as the increase in the country's strategic foreign exchange
reserves, strengthens exchange rate stability, which is the main
anchor of price stability,” CBA said.
Previously, on December 16, the Central Bank decided to raise
the interest rate by 0.25 percentage points – from 8 percent to
8.25 percent. The upper limit of the interest rate corridor
remained at 9.25 percent, and the lower limit was raised by 1.25
percentage points to 6.25 percent.
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