Azerbaijan Central Bank Maintains Interest Rates Steady

Forex - The Central Bank of Azerbaijan (CBAR) did not make any changes to the policy interest rate. According to the statement from CBAR, the benchmark reference interest rate remained at 7.25%. CBAR maintained the lower limit of the interest rate corridor at 6.25% and the upper limit at 8.25%. The statement noted, "Future decisions regarding the parameters of the interest rate corridor will depend on the actual and projected inflation dynamics as well as external and internal risk factors. The Central Bank will continuously monitor economic processes and financial markets and will utilize all available means to ensure price stability." Consumer prices in Azerbaijan were reported at 3.5% in September.