Azerbaijani Central Bank Repeatedly Cuts Notes Emission
Date
1/22/2025 2:08:18 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, January 22. The volume of
notes emitted by the Central bank of Azerbaijan (CBA) has decreased
6.5 times in 2024, Trend reports via the CBA's commentary on the decision
on the discount rate.
“Execution of budget expenditures in December last year led to
growth of monetary base by 1.7 percent. This caused the average
daily 1D AZIR index to decline by 1.29 percentage points in January
this year compared to December, amounting to 6.39 percent. Activity
in the unsecured market continues. The average daily volume of
transactions in the unsecured money market amounted to 627.3
million manat in December and 290 million manat in the last period
of January this year. Monetary policy instruments are applied,
taking into account the processes taking place in the financial
markets as well as changes in the liquidity position of the banking
system. Taking into account the impact of changes in balances of
state accounts on the liquidity of the banking system, the CBA has
significantly reduced the volume of sterilization operations since
the beginning of the year,” the information says.
To note, on January 22, the CBA decided to leave the discount
rate unchanged at 7.25 percent, while the upper and lower limits of
the interest rate corridor also remained unchanged at 8.25 percent
and 6.25 percent, respectively.
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