Head of Central Bank of Azerbaijan reveals inflation expectations

By  Trend

In 2019, inflation in Azerbaijan will remain within the stated framework, at the level of 4±2 percent, Elman Rustamov, Chairman of the Central Bank of Azerbaijan (CBA), said at a press conference on July 26, Trend reports.

According to the CBA estimates, stabilizing factors affecting inflationary risks in Azerbaijan remain, and this is indicated by surveys, he said.

He noted that in June, only 2.3 percent of the respondents said that they expect acceleration in inflation rates. This is 10 points less than in March, he added.

Commenting on the question about the discount rate, he noted that CBA will continue to determine it after analyzing all the macroeconomic processes in Azerbaijan.

The reduction in the discount rate is a factor for decrease of interest rates on loans, Rustamov said, adding that however, other factors also affect this.