The Central Bank of Azerbaijan (CBA) has increased note issuance by 23% to reduce the liquidity of the manat.

"APA-Economics" informs that this was stated in the July issue of the World Bank (WB) "Monthly Economic Update" report on Azerbaijan.

According to information, the CBA has not changed its policy regarding the discount rate, taking into account the favorable statistics of the foreign sector.

Thus, the Bank kept the interest rate at 7.75% against the background of increasing inflation.

"In the first quarter of this year, the surplus of GDP in the current account balance was 22.5%, which influenced the CBA to keep the discount rate stable," the World Bank added.