Central Bank of Azerbaijan lowers discount rate

Fri 26 Apr 2019 08:28 GMT | 12:28 Local Time

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The Central Bank of Azerbaijan (CBA) has lowered the discount rate from 9 to 8.75 percent, CBA Chairman Elman Rustamov said at a press conference in Baku on April 26, Trend reports.

The upper limit of the interest rate corridor has been lowered from 11 to 10.75 percent, and the lower limit from 7 to 6.75 percent.

Rustamov noted that the decision was made in the view of the macroeconomic processes taking place in Azerbaijan’s economy.

Last time the discount rate was lowered from 9.25 to 9 percent on March 15, 2019. The lowering of the discount rate on April 25 is the third one this year.

During 2018, the CBA lowered the discount rate four times: from 15 to 13 percent in February, from 13 to 11 percent in April, from 11 to 10 percent in June, and from 10 to 9.75 percent in October. In August and December, the discount rate remained unchanged.

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