Azerbaijan's Central Bank lowers key interest rate to 6.75%

The Board of the Central Bank of Azerbaijan (CBA) has decided to lower the key interest rate by 0.25 percentage points to 6.75%, Report informs referring to the CBA.

The lower limit of the interest rate corridor has been reduced from 6% to 5.75%, and the upper limit from 8% to 7.75%.

"The decision was made taking into account the compliance of actual and projected inflation with the target range (4±2%), the current situation in the global economy and financial markets, domestic macroeconomic trends, and the transmission of monetary policy decisions to the real sector," the CBA stated.

The decision comes into effect on December 11.