Azerbaijan Central Bank reduces key interest rate

The Board of the Central Bank of Azerbaijan (CBA) has decided to reduce the discount rate by 0.25 percentage points to 6.75%.

As reported by BAKU.WS with reference to the CBA, the lower limit of the interest corridor has been reduced from 6% to 5.75%, and the upper limit - from 8% to 7.75%.

"The decision was made taking into account the compliance of actual and forecasted inflation with the target range (4±2%), the current situation in the global economy and financial markets, domestic macroeconomic trends, as well as the transmission of monetary policy decisions to the real sector," the CBA stated.

The decision comes into effect on December 11.