Central Bank of Azerbaijan raises discount rate

The Board of the Central Bank of Azerbaijan (CBA) has decided to raise the discount rate by 0.25 percentage points - from 7.25% to 7.5%, CBA Governor Elman Rustamov said at a press conference, Report informs.

He noted that the lower limit of the interest rate corridor is set at 6%, and the upper limit - at 9%.

This decision takes effect on January 28. The next CBA decision on the parameters of the interest rate corridor will be revealed on March 18.