The Central Bank of Azerbaijan (CBA) left the discount rate unchanged at 15%. This decision was made at a meeting of the CBA Management Board on March 10.
The CBA said the decision was made in connection with the first positive trends observed in the macroeconomy as well as new expectations. Thanks to the measures taken since the beginning of the year, the exchange rate of manat against the US dollar slightly consolidated, which created prerequisites for more positive expectations regarding inflation.
In particular, an opportunity appeared to achieve single-digit rate of inflation in 2017, which will depend on effectiveness of macroeconomic policy and continuing positive trends in the balance of payments and on the foreign exchange market. (Trend/Business World Magazine)