Bank Of Baku

CBA raises accounting rate

CBA raises accounting rate
# 06 May 2011 16:48 (UTC +04:00)
CBA says banks’ compulsory reserve quota on liabilities in foreign currency increased from 2% to 3%.

CBA’s statement says the reviving processes in world economy are observed with the price rise in global energy carriers and food markets. At the same time, economic growth rate and financial stability performances among the countries and regions are different. In this condition, capital flow to the increasing and attractive countries increases. The growth processes in Azerbaijan’s economy continue in current global economic situation. Potential growth sources of money supplies are also extended. That’s why increase of accounting rates were acceptable.
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