Central Bank of Azerbaijan decreases discount rate

By  Trend

The Central Bank of Azerbaijan has reduced the discount rate from 13 to 11 percent, Head of the CBA Elman Rustamov said at a press conference on April 9.

The CBA Board also decided to lower the upper limit of the interest corridor from 16 to 14 percent. The lower limit of the interest corridor was kept at 8 percent.

Rustamov said the decision to reduce the parameters of the percentage corridor was made given the entry of average annual inflation into a single-digit trajectory, forecasts on further lowering inflation and improving external balance.

This is the second reduction of the discount rate since early 2018. In February, the CBA reduced the discount rate from 15 to 13 percent.

Next time, the parameters of the percentage corridor will be discussed in June 2018.