Azerbaijan’s central bank reduces discount rate

The Management Board of the Central Bank of Azerbaijan (CBA) made a decision to reduce the discount rate by 0.25 percentage points from 7.75% to 7.5%, Report informs, referring to CBA.

It is reported that the lower limit of the interest rate corridor (IRC) was kept at 6.25%, and the upper limit was reduced by 0.25 percentage points from 8.75% to 8.5%.

This decision comes into force tomorrow. The next decision on the parameters of the IRC will be announced on May 1, and a press conference will be held in this regard.