Central Bank of Azerbaijan cuts interest rate

Central Bank of Azerbaijan cuts interest rate
  • Clock-gray 11:14
  • calendar-gray 25 October 2019

The Board of the Central Bank of Azerbaijan (CBA) passed a decision to cut the discount rate by 25 base points, with which the discount rate was reduced from 8.00 percent to 7.75 percent, chairman of the CBA Elman Rustamov told journalists, APA reports.

With the reduction of the discount rate, the lower threshold currently stands at around 6.00 percent and the upper at 9.50 percent.

The decision comes into force on October 25, 2019. The parameters of the interest rate corridor will be considered on December 13 this year.

APA-Economics

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