Central Bank of Azerbaijan increases discount rate

The Management Board (MB) of the Central Bank of Azerbaijan (CBA) made a decision to raise the discount rate by 0.25 percentage points to 8.5%, Report informs, citing CBA.

The interest rate floor is increased by 0.5% to 6.75% and the ceiling is increased by 0.25% to 9.5%.

"This decision is based on the dynamics of factors that have an increasing and decreasing effect on inflation in the internal and external environment," the Central Bank said in a statement.

The next decision of the Central Bank on the parameters of the MB interest rate corridor will be announced to the public on March 29.