Central Bank of Azerbaijan raises interest rate

The Board of the Central Bank of Azerbaijan (CBA) has decided to increase the interest rate by 0.5 percentage points from 6.5% to 7%, CBA chairman Elman Rustamov said at a press conference.

According to him, the interest rate floor was maintained at 6%, and the ceiling was increased from 7% to 8%.

This decision comes into force today. The next decision of the CBA on the parameters of the interest rate corridor will be announced to the public on December 17.