“Inflation in Azerbaijan is imported inflation," said the chairman of Central Bank of Azerbaijan (CBA) Taleh Kazimov, APA reports.
"More than 6 percentage points of the 12.8% inflation in April is imported inflation. In general, up to 80% of the inflation we experience is imported inflation. CBA takes several steps to prevent inflation. CBA has limited consumer loans. This is to prevent inflation. The next step we will take to control inflation will be to increase the effectiveness of the discount rate. Starting from September last year, we are implementing a new monetary policy. Monthly interbank turnover already exceeds 3 billion. This is a historical record. This means that banks have already started lending to each other. For the first time, it started in Azerbaijan on September 1 last year," said Taleh Kazimov.
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