BAKU, Azerbaijan, July 26. The Central Bank of Azerbaijan (CBA) has decided to leave the discount rate unchanged at 9 percent, Trend reports.
The upper and lower limits of the percentage corridor also remained unchanged at 10 percent and 7.5 percent, respectively.
The next decision of the Central Bank on monetary policy will be announced on September 20, 2023.
Previously, Deputy Head of Research and Chief CIS Economist at Russian Gazprombank Gulnara Khaidarshina said that the CBA at its upcoming board meeting on July 26, will extend the pause in raising the discount rate and maintain it at the nine percent level.
"The arguments in favor of this decision are: a steady slowdown in inflation, which at the same time exceeds the refinancing rate; a stable level of dollarization of household deposits; a weakening of the external inflationary background; as well as the need to create additional conditions for growth in the non-oil and gas sector," she noted.
On June 21, the Central Bank of Azerbaijan decided to leave the discount rate unchanged at nine percent. The upper and lower limits of the percentage corridor also remained unchanged at 10 percent and 7.5 percent, respectively.