“We are trying to increase the impact of banking policy on loan interests in Azerbaijan. There is a reform agenda in this regard. We have focused on the reforms in this field,” Chairman of the Central Bank of Azerbaijan (CBA) Elman Rustamov said at the press conference.

“We are preparing to switch to the mode of targeting of the inflation. Impacts on deposit and loan interests are still weak. After switching to this mode, we may have increased the impacts,” he said.

According to him, the rise in oil price slightly affects the strengthening of the manat rate.