BAKU, Azerbaijan, June 26. This week, the Central Bank of Azerbaijan (CBA) decided to leave the discount rate unchanged at 9 percent, the upper and lower limits of the interest rate corridor also remained unchanged at 10 percent and 7.5 percent, respectively, Trend reports.
The CBA will continue its in-depth analysis of inflationary factors in the future, adequately using all the tools at its disposal to return inflation to its targets through monetary conditions. In case of continued weakening of inflationary pressure, the possibility of taking a pause in tightening monetary policy at least until September of this year will be considered, and at subsequent stages - its mitigation.
In addition, in accordance with the baseline scenario of the Central Bank for 2023, the forecast of annual inflation (8.3 percent) remains unchanged.
This week, the CBA and the International Monetary Fund discussed programs to support the development of Azerbaijan.
Moreover, the directions of development of cooperation between the central banks of Azerbaijan and Tajikistan were discussed.
Also, this week, over the past 25 years FINCA Azerbaijan has issued more than 1 million loans totaling $1.3 billion in Azerbaijan.
FINCA Azerbaijan still sees a great need to expand access to finance in rural regions of Azerbaijan so that farmers and households can get the financing they need to develop their businesses and increase their families' incomes.
Meanwhile, the International S&P Global Ratings Agency confirmed the long-term and short-term credit ratings of the issuer of the Azerbaijani Muganbank OJSC at the level of "B-/B", the forecast of rating changes is "stable".
