According to outlook, taking into account the recent inclinations in the change of money supply, the required reserves were reduced to 0.5% from 2% in order to support economic growth by allowing reduction of interest rates.
“Condition for carrying out monetary policy and opportunities to achieve inflation targets were taken into account while decisions on monetary policy were passed. During the period, the monetary policy was carried out by taking into consideration the inclinations in economic cycle, as well targets of price and financial stability. On July 13, 2015,the Central Bank of Azerbaijan reduced discount rate from 3.5% to 3% for stimulation of investments by accelerating reduction of interest rates, creation of monetary ground for optimization of value of mortgage loans and funding of small and medium business. Other parameters of the corridor have not been changed. Maximum level of the corridor is 5%, minimum level – 0.1%.
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