According to its declared monetary policy, the Central Bank continues its activities aimed at maintenance of price and financial stability in the country. The recovery processes that have started in the world economy in the recent months are followed by price increase in the market of energy resources and food-stuffs.

At the same time, dynamics of economic growth and indicators of economic stability significantly vary among the world countries and regions. Increase of capital flow to constantly developing and attractive countries is observed under present conditions.

In the existing global economic situation, processes of development in the Azerbaijani economy continued and the economic activity and level of loading of productive forces increased. The balance of payments surplus and foreign exchange reserves of the country continuously grow. Sources of potential growth of monetary aggregates continue to expand.

Prompt management of factors influencing inflation under these conditions, remains to be a significant task.

Given the abovementioned, the Management Board of the Central Bank made a decision on increase of discount rates from 5 to 5.25 percent from May 6, 2011. At the same time, required reserve norm on liabilities of banks in foreign currency are increased from 2 to 3 percent.