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Central Bank of Azerbaijan lowers interest rate

07 June 2019 11:01 (UTC +04:00)

The Board of the Central Bank of Azerbaijan has decided to reduce the interest rate from 8.75% to 8.5%, the Central Bank told APA.

The upper limit of the interest rate corridor was set at 10.5%, the lower limit at 6.5% (in the symmetric range, ± 2% of the discount rate).

In the future, the response of the monetary policy will depend on the differences between real and projected inflation, inflationary expectations, changes in the external environment and the reaction of financial markets to these changes. The next meeting of the CBA, which will consider the issue of the discount rate, will be held on July 26, 2019.

This decision came into force on June 7.