(Adds bank's comments)
BAKU, Feb 1 (Reuters) - Azerbaijan's central bank raised
its key refinancing rate to 8.5% from 8.25% previously, the
regulator said on Wednesday.
The bank also adjusted its rate corridor, with the lower
boundary raised to 6.75% from 6.25% and the upper boundary
increasing to 9.5% from 9.25% previously.
It said it expected annual inflation to be around 8% in 2023
if the assumptions in its base scenario remain stable.
"Overall, annual inflation is on a downward trend, but its
projected level continues to exceed the target," the bank said.
(Reporting by Nailia Bagirova; Writing by Caleb Davis; Editing
by Muralikumar Anantharaman)
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