Azerbaijan Central Bank Keeps Interest Rates Unchanged

Forex - The Central Bank of Azerbaijan (CBAR) did not change the policy interest rate at its fifth consecutive meeting. According to the statement from CBAR, the benchmark reference interest rate remained at 7.25%. CBAR maintained the lower limit of the interest corridor at 6.25% and the upper limit at 8.25%. The statement indicated, "Future decisions regarding the parameters of the interest corridor will depend on actual and projected inflation dynamics as well as external and internal risk factors. The Central Bank continuously analyzes economic processes and monitors financial markets. The Central Bank is determined to use all available means to ensure price stability as part of its primary responsibility." Consumer prices in Azerbaijan were reported at 4.4% in November.