Governor: CBA reduces its participation in Azerbaijan's interbank market

The Central Bank of Azerbaijan (CBA) has managed to reduce its participation in the interbank market, CBA Governor Taleh Kazimov said, Report informs.

Kazimov emphasized that the main reference rate of the Central Bank of Azerbaijan is AZIR: "Our target is to bring our interest rate as close as possible to this index. Last year, we further improved our monetary policy and lowered the interest rate. We did this to further activate the interbank market, taking liquidity into account, and to reduce the Central Bank's participation in that market. We have achieved this. Activity in the interbank market has increased."

"At present, we are not considering taking any additional measures. We use our available monetary policy instruments to maintain liquidity at the desired level and work to ensure that interest rates are set at our targeted levels," he added.