CBA can reduce discount rate for next time

Central Bank of Azerbaijan (CBA) might reduce the discount rate on December 13, a source in the financial market told Report.

According to the information, current economic indicators create a condition for changes in the parameters of the discount rate: ‘Indicators of ten-month export and import operations, figures on balance of payment and indicators of many factors affecting discount rate are already known. I think all these factors create a condition for reduction of discount rate’.

According to statistics of the State Customs Committee, Azerbaijan conducted trade operations worth $28.276 billion with foreign countries in January-October, up 12.1% from the previous year. A positive balance in the foreign trade turnover amounted to $5.366 billion.