Central Bank of Azerbaijan cuts interest rate to 6.5%

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# 13:56
18 September 2020

The Board of the Central Bank of Azerbaijan (CBA) has decided to cut interest rates by 0,25 base points from 6.75% to 6.5%, APA reports citing CBA.

The lower limit of the interest rate corridor is set at 6%, and the upper limit of the interest rate corridor is set at 7%.

This decision is aimed at supporting aggregate demand by keeping inflation within the target range (4 ± 2%) and thus accelerating the recovery process.

The acceptable level of the discount rate allows you to control the dynamics of inflation in the short and medium-term.

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THE OPERATION IS BEING PERFORMED