Azerbaijan continues gradual tightening
Central bank adds 25bp at March meeting, for a total of 150bp in hikes since September
The Azerbaijan central bank board announced its fifth consecutive hike on March 18, increasing the refinancing rate from 7.5% to 7.75%. Since September, Azerbaijani authorities have increased the refinancing rate by 150 basis points.
In its monetary policy statement, the central bank described new uncertainties in the global economic and political situation, probably referring to the war in Ukraine.
The central bank said year-on-year inflation came to 11.9% in February 2022. This was a small
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