Central Bank of Azerbaijan: New monetary policy's effect on market already felt

The effects of the new monetary policy implemented in Azerbaijan from September 1 this year are already felt on the market, Taleh Kazimov, chairman of the Central Bank of Azerbaijan (CBA), said at a press conference, Report informs.

"Now interbank interest rates are formed according to the discount rate. One of our main goals is that the discount rate affects the market in the short term and plays a role in regulating inflation.

"A deal worth 788 million manats ($463.5 million) was concluded between the banks in September and 1,426 million manats ($838.9 million) in October, which are also record numbers for the banking sector," the chairman said.