2024-03-28 03:22:53
The next decision of the board of the Central Bank of Azerbaijan (CBA) on the parameters of the interest rate corridor will be announced on March 28, 2024, Day.Az reported on Wednesday with reference to Trend.
Note that on January 31, the Central Bank lowered the discount rate from eight to 7.75 percent.
The upper limit of the interest rate corridor was reduced from 9 percent to 8.75 percent, and the lower limit – from 6.5 to 6.25 percent.
“This decision was made taking into account the fact that actual and projected inflation is in the target corridor (4±2 percent), stabilization of inflation expectations, as well as the situation on the foreign exchange market. The annual inflation rate has fallen since the last meeting of the Governing Council on monetary policy. In 2023, 12-month inflation was 2.1 percent and formed at the lower end of the target range (4±2 percent). A decrease in inflation was observed for all group components of the consumer basket. Annual food inflation amounted to 0.8 percent, non-food inflation – 2.7 percent, inflation in the service sector – 3.7 percent. The dynamics of actual inflation also affected inflation expectations,” the Central Bank noted in its statement.
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