Central bank cuts interest rates again
Azerbaijan`s central bank has lowered annual
interest rates for centralized loans from 10% to 8%.
Mandatory hedging on bank liabilities in both manats and foreign currency have also been reduced from the current 9% to 6%, according to a decision of the National Bank of Azerbaijan (NBA), effective on Monday.
The NBA also pledged to continue working toward bolstering the financial stability of Azerbaijan`s banking system.
The NBA had ordered, on October 14, a lowering of interest rates on loans from 15% to 12% to boost activity in the domestic debt market and increase the liquidity of local banks. Further, late in October, the central bank reduced interest rates from 12% to 10% in an effort to increase the demand for bank loans.
Mandatory hedging on bank liabilities in both manats and foreign currency have also been reduced from the current 9% to 6%, according to a decision of the National Bank of Azerbaijan (NBA), effective on Monday.
The NBA also pledged to continue working toward bolstering the financial stability of Azerbaijan`s banking system.
The NBA had ordered, on October 14, a lowering of interest rates on loans from 15% to 12% to boost activity in the domestic debt market and increase the liquidity of local banks. Further, late in October, the central bank reduced interest rates from 12% to 10% in an effort to increase the demand for bank loans.
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