BAKU, Azerbaijan, Oct. 30
By Sadraddin Aghjayev - Trend:
The Board of the Central Bank of Azerbaijan (CBA) made a decision to increase the discount rate by 0.5 percentage points - from 6.5 to seven percent this week, Trend reports.
In accordance with the decision, the upper limit of the interest rate corridor was raised from seven to eight percent, while the bottom remained unchanged at six percent.
The CBA also said that it won’t make decisions on the devaluation of the manat, since currency market in Azerbaijan is stable and the existing pressure on the manat is gradually weakening.
Besides, according to the Central Bank, inflation in the country is expected to average 6.2-6.5 percent by the end of 2021 and next year, the average inflation is projected at 5.6 percent.
This week it was also reported that as early as next week Apple Pay is expected to be launched by some banks in Azerbaijan, which will allow use contactless payment both through debit and credit cards.
Meanwhile, Baku Stock Exchange (BSE) expressed its readiness to issue "Green Bonds" for restoration and reconstruction of Azerbaijan’s territories liberated from Armenian occupation [in the 2020 Second Karabakh War].
According to BSE, a legislative basis has already been prepared for the above aim, and currently it expects an issuer who will deal with this issue. In case of receiving such appeals, it will consider them.
In the outgoing week,the CBA also reported that investments, as well as number of shareholders and issuers in the capital market have significantly grown in Azerbaijan since the early 2021.
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