BAKU, Azerbaijan, December 18. The Central Bank of Azerbaijan (CBA) will announce the last decision on interest rate in 2023, Trend reports via CBA.
The decision of the Board of the Central Bank of Azerbaijan on the discount rate will be announced on December 20.
The CBA has held seven meetings on the discount rate this year, with the discount rate raised to 9 percent. The CBA only cut the interest rate from 9 percent to 8.5 percent at its last meeting on November 1.
The Central Bank announced that this decision was made considering the changing external and domestic factors affecting inflation, as well as the fact that supply in the foreign exchange market significantly exceeds the demand.
In addition, the CBA emphasized that further decisions on monetary policy will be made taking into account the comparison of projected inflation with the target and updated macroeconomic forecasts. If the risks associated with the external and internal environment will not be realized, and the pressure on the strengthening of the manat will not weaken, the possibility of a phased easing of monetary policy will be considered.
Stay up to date with more news on Trend News Agency's WhatsApp channel