The Board of the Central Bank of Azerbaijan (CBA) has decided to keep the key rate at 6.5%.
“Operative Information Center-OMM” reports, citing the CBA.
The lower and upper bounds of the interest rate corridor remain at 5% and 7.5%, respectively.
“In making the decision, the Board considered movements in headline and core inflation, inflation expectations and the balance of risks. It also assessed developments in the foreign exchange market, changes in the banking sector’s liquidity position and recent trends in global monetary conditions.
“For the remainder of this year, decisions on the interest rate corridor will continue to take into account the inflation forecast, trends in key macroeconomic indicators and developments in the foreign exchange market. Given uncertainties in the global environment and the extent to which they may be transmitted to the domestic economy, macroeconomic forecasts will continue to be assessed under several scenarios,” the CBA said.
The next decision on the interest rate corridor parameters will be announced to the public on December 23.
