Central Bank of Azerbaijan Cuts Interest Rate

The Board of the Central Bank of Azerbaijan (CBA) passed a decision to cut the discount rate by 0.25 percent, with which the discount rate was reduced from 7.50 percent to 7.25 percent, APA reports.

The limits of the interest rate corridor are within ±1.75 percent of the base rate.

Note that earlier on December 13, 2019, the CBA decided to lower the interest rate by 0.25 percentage points from 7.75% to 7.50%. The upper and lower limits of the interest rate band were determined in the range of ± 1.75% of the discount rate (9.25% and 5.75%).

Recall that the parameters of the interest rate corridor in...