Azerbaijan's Central Bank keeps exchange rate stable

The Management Board of the Central Bank of Azerbaijan (CBA) has decided to maintain the discount rate at 7.25%, Azernews reports.

The CBA also confirmed that the interest rate corridor will remain unchanged, with the lower limit set at 6.25% and the upper limit at 8.25%.

The decision was based on current inflation rates aligning with forecasts, with predicted inflation staying within the target range of 4±2%. Additionally, it reflects considerations of both domestic and international inflationary pressures.

This decision will take effect starting tomorrow. The CBA plans to announce any updates on the interest corridor parameters on September 18.