Posted by 
Board of Directors of the Central Bank of Azerbaijan has held a meeting on outcomes of the first quarter of 2014 and tasks laying ahead.
CBA told APA-Economics that growth processes in the national economy and the issue that non-oil sector is the main source of economic growth have been discussed at the meeting.
Thereafter, it was stressed that foreign economic position of the country is protected and strategic currency stocks increase. Macro economic stability strengthened, average annual inflation declined to 2%.
CBA Board of Directors has passed a decision on reducing accounting rate from 4.75% to 4.5% from May 1, 2014.
At the same time, parameters of the interest corridor have also been changed. Upper limit of the corridor reduced from 7% to 6%, lower limit – from 1% to 0.5%.
Apa/az
