BAKU, Azerbaijan, July 29. The Central Bank of Azerbaijan (CBA) is forecast to leave the base rate unchanged - at 7.75 percent following today's meeting, Deputy Head of the Market Analysis Department at the Russian Gazprombank Gulnara Khaidarshina told Trend.
Khaidarshina noted that maintaining the base rate will allow the CBA to preserve the attractiveness of deposits in manat (Azerbaijani national currency).
"No serious increase in deposits dollarization has been observed in Azerbaijan despite the negative real rate interest, and the dynamics of deposits in manat remain stable. We believe that the absence of a pronounced upward trend in dollarization gives the CBA an opportunity avoid raising the rate as of now and focus on non-monetary anti-inflationary measures together with the government," Khaidarshina said.
She added that the previous decisions of CBA to raise the rate and the implementation of anti-inflationary measures by government made it possible to contain pro-inflationary risks.
The Central Bank of Azerbaijan (CBA) has decided to leave the base rate unchanged, at the level of 7.75 percent on June 17.
According to CBA, the upper limit of the interest-rate corridor remained at 9.25 percent, while the lower limit was 6.25 percent.