Central Bank Missed More than 100 Million AZN on Deposit Auction
The demand on the deposit auction of the Central Bank on 6 March was 41.4 million manat, while the supply was 150 million manat.
The funds are raised for a period of 14 days, at the weighted average rate of 14.79%.
Deposit auctions are an anti-inflation tool.
The Central Bank since June 2016 launched deposit auctions. 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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