Azerbaijan Central Bank reduces discount rate
By Nazrin Abdul, AZERNEWS
The Board of the Central Bank of Azerbaijan (CBA) has decided to reduce the discount rate by 0.25 percentage points from 7.5% to 7.25%, Azernews reports.
According to the information, the lower boundary of the interest rate corridor was kept at 6.25%, and the upper boundary was reduced by 0.25 percentage points from 8.5% to 8.25%.
"This decision was made taking into account the fact that actual and projected inflation is within the target corridor (4±2%), stabilisation of inflation expectations, as well as excess supply in the foreign exchange market," the CBA said.
This decision will be effective as of tomorrow. The schedule of public disclosure of decisions on the parameters of the interest rate corridor will be announced on June 21, and a press conference will be held in this regard.
---
Follow us on Twitter @AzerNewsAz