Azerbaijan reduces interest rate

Baku. 30 October. REPORT.AZ/ The Management Board of the Central Bank of Azerbaijan (CBA) has made a decision on reduction of interest rate from 10% to 9.75%, setting the upper and lower limit of the interest corridor at +/-2%, CBA Chairman Elman Rustamov said at press conference, Report informs.

On February 12, 2018, the management board made a decision to reduce the interest rate from 15% to 13%, the upper limit of the interest corridor from 18% to 16 and lower limit from 10% to 8%. The bank reduced the interest rate from 13% to 11%, set the upper and lower limits at +/-3% on April 9, 2018. On June 14, 2018, the bank reduced interest rate from 11% to 10%, set the upper and lower limits of the interest corridor at +/-2%.