BAKU, Azerbaijan, August 1. This week the decision of the Central Bank of Azerbaijan (CBA) to leave the base rate unchanged - at the level of 7.75 percent - has been unveiled, Trend reports.
The upper limit of the interest corridor remained at the level of 9.25 percent, and the lower limit - 6.25 percent.
The CBA forecast for average annual inflation at the level of 12.5-12.8 percent in 2022 was also published. CBA predicts a gradual decline in annual inflation in Azerbaijan in 2023. According to the forecast, annual inflation in Azerbaijan will gradually decrease to single digits in 2023 with a favorable change in external factors.
It was also known that the CBA is working on a strategy to respond to credit risks. CBA this week reported that bank is negotiating with the UK-based Revolut fintech company, which eyes entering the Azerbaijani market.
Central Bank of Azerbaijan is also considering the possibility of creating a national rating agency.
According to CBA, it is negotiating with several investment companies to organize online sales in the securities market.
CBA is also discussing the possibility of functioning of the Russian payment system "Mir" in Azerbaijan.
It was also reported that the Azerbaijan Microfinance Association (AMFA) plans to hold a conference. AMFA plans to hold the next conference in the second half of November. It will discuss the possibilities of alternative financing in the national currency of the microfinance sector in the digital age, risk management and business models of branchless lending.