Tuesday, March 1, 2011

Azerbaijan Central Bank Lifts Rate 200bps to 5.00%

The Central Bank of the Republic of Azerbaijan increased its benchmark interest rate by 200 basis points to 5.00% from 3.00%. The Bank also increased reserve requirements 150 basis points to 2.00% from 0.50%. The moves were intended to head off rising inflation risks, as rising global commodity prices and further momentum in economic growth puts upward pressure on prices.



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