Azerbaijani Central Bank Announces Date For Upcoming Refinancing Rate Meeting

2024-04-30 03:08:23

(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 30. The next decisionof the Board of the Central Bank of Azerbaijan (CBA) on theparameters of the refinancing rate will be made public on May 1,Trend reports.

Previously, on March 28, 2024, CBA lowered the refinancing ratefrom 7.75 percent to 7.5 percent.

The upper limit of the interest rate corridor was reduced from8.75 percent to 8.5 percent, while the lower limit was keptunchanged at 6.25 percent.

"This decision was taken taking into account the comparison ofactual and projected inflation with the target (4±2 percent),stabilization of inflation expectations, and changes taking placein the balance of risks.

Reduction of the upper boundary of the interest rate corridorand the discount rate, taking into account the preservation ofpredicted inflation at the target level, is aimed at easingmonetary conditions.

Keeping the lower boundary unchanged serves to optimize thewidth of the interest rate corridor. When determining theseparameters of the interest rate corridor, the scale of their impacton interest rates in the interbank money market was also taken intoaccount," the commentary of the CBA said.

Stay up-to-date with more news at Trend News Agency'sWhatsApp channel

MENAFN30042024000187011040ID1108154900

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.