Weekly review of key events in Azerbaijan’s financial market

By Trend The Board of the Central Bank of Azerbaijan (CBA) last week made a decision to increase the interest rate from seven percent to 7.25 percent, Trend reports. At the same time, the upper limit of the interest rate band increased from eight percent to 8.25 percent, while the lower limit remained unchanged at six percent. Azerbaijan’s strategic foreign exchange reserves increased by 4.4 percent ($2.2 billion) from January through November 2021 and reached $53 billion. The CBA’s reserves increased by 10.2 percent and exceeded $7 billion. According to the CBA, if the current trends remain, …

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