CBA reduces discount rate

The Central Bank of Azerbaijan (CBA) has passed a decision on reduction of interest rate from 9% to 8.75%, CBA Chairman Elman Rustamov said at the press conference.

According to him, the upper limit of the interest corridor was set at 10.75%, lower limit – at 6.75% (at a ±2%-symmetric diapason)

On March 15, the CBA reduced the discount rate from 9.25% to 9%. The upper limit of the interest corridor had been reduced from 11.25% to 11%, the lower limit from 7.25% to 7% (at the ±2%-symmetric diapason).

The CBA will consider the interests on June 7.