CBA increases rates

According to the decision by the Central Bank of Azerbaijan (CBA), the interest rate will be increased from three to five percent from March 1, 2011, the CBA released on Monday, Trend reports.

In order to control the growth rate of money supply, the Central Bank also decided to increase the compulsory reserve requirements on domestic and foreign liabilities of banks from 0.5 to two percent.

These decisions have been made for targeted efforts of the CBA to preserve price stability.