“Current monetary policy in the country is not unambiguous. To my mind,the existing situation already allows reduction of discount rate. Of course, the decision will be made by the Central Bank of Azerbaijan”, Zakir Nuriyev, the head of Azerbaijan Banks Association (ABA) said.
“As an independent person, I can say that positive inclinations in the economy already allow to reduce discount rate”, he said.
Along with this, Nuriyev did not want to forecast to what level the discount rate may be reduced: “It’s difficult to say a concrete figure. But I think it’s real to reduce the discount rate down to 12%”.