Saturday, May 7, 2011

Azerbaijan Central Bank Lifts Rate 25bps to 5.25%

The Central Bank of Azerbaijan raised its discount rate by 25 basis points to 5.25% from 5.00% previously.  The Bank also announced a 100 basis point increase in the level of mandatory external debt provisioning for banks to 3.00% from 2.00%.  The Bank said: "Taking measures to secure price and financial stability is among the main priorities in the CBA's activity. However, the world has recently seen growing prices on energy sources and foodstuffs".


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