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Central Bank of Azerbaijan increases interest rate

Economy Materials 28 January 2022 12:31
Central Bank of Azerbaijan increases interest rate

BAKU, Azerbaijan, Jan. 28

By Sadraddin Aghjayev - Trend:

The Board of the Central Bank of Azerbaijan (CBA) has decided to raise the interest rate by 0.25 percentage points from 7.25 percent to 7.5 percent, Chairman of the Board of the Central Bank of Azerbaijan (CBA) Elman Rustamov said at a press conference, Trend reports.

Rustamov said that the upper limit of the interest rate corridor increased from 8 percent to 9 percent while the lower limit was 6 percent, remaining unchanged.

This decision was made on the basis of the forecast of short-term and medium-term inflationary factors, taking into account the impact of increasing inflationary processes in the global economy, in particular, the transfer of rising prices for food and raw materials, transport and logistics costs, as well as the processes of liberalization of regulated prices and tariffs to the national economy amid the growing balanced domestic demand.

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