CBAR narrows interest rate corridor on liquidity operations

Baku. 3 May. REPORT.AZ/ Today the Managerial Board of the Central Bank of Azerbaijan Republic (CBA) has adopted a decision to increase lower level of interest rate corridor on liquidity operations from 2% to 4%, while reducing upper limit from 17% to 15% by keeping discount rate at 7% unchanged.

Report informs referring to the Central Bank.

Notably, the CBAR carries out operations of provision and attraction of liquidity for 1 day up to 7 days under interest rates at lower and upper limits of interest rate corridor. In order to manage short-term liquidity, banks may use 1-7 days repo/reverse repo transactions, which is the CBAR's framework instrument, on their own initiatives without restriction.