Central bank reduces discount rate to 10%

Central bank reduces discount rate to 10%
  • Clock-gray 08:44
  • calendar-gray 22 June 2017

At the meeting, upper limit of interest corridor on discount rate and liquidity operations was kept unchanged, lower limit reduced from 12% to 10%.


It was noted that economic growth restored in the non-oil sector, balance of payment changed to a surplus position as a result of increase of export and decline of import. Sustainability of the manat rate is increasing. However, central bank says the discount rate may be reduced depending on economic and inflation dynamics.

 

The next meeting about the discount rate will be held on August 1, 2017. 

Other news