CBA to Hold another Deposit Auction

On October 17 the Central Bank of Azerbaijan will hold another deposit auction for commercial banks, the Central Bank said in a statement. The Central Bank intends to attract AZN 50 million for a period of 28 days.

The Central Bank started deposit auctions in June 2016. Until now 15 auctions of the sort have been carried out.

According to international practice, the main purpose of deposit auctions is the sterilization of money supply. At the time of deposit auctions the Central Bank receives commercial banks' deposits for placement.   ---71D

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