The Central Bank of Azerbaijan on September 16 decided to leave the discount rate without changes – at the level of 7.75 percent, the Central Bank said in a statement.
The upper limit of the percentage corridor remained at the level of 9.25 percent, the lower limit – 4 percent.
“From the last meeting of the TsBA dedicated to monetary policy, there have not been significant changes in actual inflation. The forecast that by the end of the year inflation will be lower than the current level remains in force taking into account the consequences of reducing world food prices and indicators and indicators characterizing the supply and logistics costs in recent months. The inflation forecast for 2023 has also been reduced, ”the Central Bank said.
The bank emphasizes that monetary factors continue to exert reducing inflation pressure. At the same time, the Central Bank indicates that the situation in the foreign exchange market is stable due to the surplus of the payment balance. Based on this, the bank in the foreign exchange market is carried out only by the purchase of invalence. In addition, the nominal effective course of manat continues to strengthen, which is a factor that restrains inflation.
The next meeting of the Central Bank at the accounting rate will be held on October 28.