Azerbaijan's Central Bank predicts gradual decline in inflation

Azerbaijan's Central Bank predicts gradual decline in inflation

According to forecasts, annual inflation in Azerbaijan will gradually decrease to single digits with a favorable change in external factors in 2023, Governor of Central Bank of Azerbaijan (CBA) Taleh Kazimov said at a press conference on July 29.

"It is expected that seasonal factors will have a restraining effect on inflation in July and in August," Kazimov said.

On July 29, CBA decided to leave the base rate unchanged - at the level of 7.75%, on July 29.

The upper limit of the interest corridor remained at the level of 9.25%, and the lower limit at the level of 6.25%.

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