By AZE.US
BAKU — Azerbaijan’s Central Bank kept its benchmark interest rate unchanged at 6.5% while cutting the lower boundary of its interest-rate corridor by 0.5 percentage point to 5%.
The bank’s board announced the decision on Sept. 23, according to Vesti Baku. The upper boundary of the corridor remained unchanged at 7.5%.
The regulator said it considered actual and projected inflation, foreign-exchange market conditions, banking-sector liquidity and global monetary-policy trends when setting the parameters.
Inflation Remains Within Target Range
Azerbaijan’s annual inflation rate was 5.7% in August, down 0.1 percentage point from July. Core inflation stood at 5.1%.
Food, alcohol and tobacco prices rose 7.2% from a year earlier. Paid services increased 5%, while nonfood goods rose 3.7%.
The Central Bank maintained its forecast that inflation would remain within its target range over the medium term.
AZE.US