Central Bank of Azerbaijan reduces discount rate to 13%

Mon 12 February 2018 07:44 GMT | 07:44 Local Time

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Management Board of the Central Bank of Azerbaijan has today made a decision on reduction of discount rate from 15% to 13%, upper limit of interest rate corridor from 18% to 16% and lower limit from 10% to 8%.

According to the bank, the decision was made by taking into account the annual average inflation’s becoming single-digit, predictions on decline in inflation and improvement of foreign balance. Depending on these positive trends, the Central Bank of Azerbaijan thinks that interest rates may be reduced more. According to evaluations, gradual shift to neutral monetary policy as an adequate to a new economic cycle will have positive impact on economic activity. 

Central Bank of Azerbaijan will discuss parameters of interest rate corridor in April 2018.

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