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Russian Gazprombank expecting more serious increase in refinancing rate in Azerbaijan

Economy Materials 13 April 2022 15:08 (UTC +04:00)
Russian Gazprombank expecting more serious increase in refinancing rate in Azerbaijan
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, April 13. The Russian Gazprombank JSC predicts an increase in the discount rate by the Central Bank of Azerbaijan (CBAR) by 100 basis points - up to 8.75 percent, Deputy Head of the Market Analysis Department of the Russian Gazprombank Gulnara Khaidarshina told Trend.

According to her, maintaining inflation in Azerbaijan outside the upper limit of the CBAR's target corridor, the recovery of economic activity, also the leading role of the budget in stimulating the economy will lead to a second increase in the refinancing rate at the CBAR meeting on April 29.

"At the same time, we do not rule out a more serious increase in the rate - by about 100 basis points (at previous meetings, the rate was raised by 25 basis points). This will cool inflationary expectations and maintain the attractiveness of deposits in the national currency," Khaidarshina said.

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