By the decision of the Board of Directors of the Central Bank of Azerbaijan (CBA), the discount rate was kept unchanged at 9%, the lower limit of the interest corridor was 7.5%, and the upper limit of the interest corridor was 10%, APA-Economics reports citing Central Bank.
The annual inflation rate has continued to decrease since the last monetary policy meeting. In June, compared to the previous month, 0.9% deflation was recorded. Annual inflation was 10.6% in June, which is 5 percentage points lower than the peak level of recent years recorded in September of last year. Annual food inflation decreased to 11.5%.
The Central Bank will make its next decisions regarding monetary policy taking into account the internal and external inflation risks, actual and expected inflation deviation from the target.
Information on the next decision on monetary policy will be announced on September 20, 2023.
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