11:13 - 27.09.2024

---

September 27, Fineko/abc.az. During the 1st half of 2024, the Central Bank pursued monetary policy in the direction of regulating inflationary processes amid the improved transmission of monetary policy decisions through the interest rate channel.

ABC.AZ informs that this is stated in the Central Bank's financial stability report for the first half of 2024.

Decisions on the parameters of the interest rate corridor during this period were made mainly taking into account the dynamics of inflationary factors, the influence of factors beyond monetary policy, and aggregate demand.

At the first 3 meetings devoted to monetary policy, decisions were made to reduce the discount rate from 8% to 7.25%, the upper limit of the interest rate corridor from 9% to 8.25% and the lower limit of the interest rate corridor from 6.5% to 6.25%, while at the last meeting the parameters of the interest rate corridor were kept unchanged.

These decisions have influenced aggregate demand and inflationary factors through monetary policy. On August 10, the average interest on unsecured transactions for 1 day (1D AZIR) was formed within the interest corridor close to the discount rate of 7.28%.