Azerbaijan authorities order 50bp hike

national-bank-azerbaijan

The board of the Azerbaijani central bank met high inflation with a 50 basis-point increase in its policy rate on October 29.

The headline rate now stands at 7%, within a ±1% corridor. This was the second increase in as many months, following a 25bp rise in September.

The board cited high inflation, driven by global and domestic factors, and said inflation expectations had also risen. Year-on-year inflation reached 8.5% in September. The inflation target is 4%, within a band of ±2%.

The board

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