Central Bank of Azerbaijan reduced the discount rate

The Board of the Central Bank of Azerbaijan (CBA) has decided to reduce the discount rate by 0.25 percentage points - from 7.25% to 7%.

This is reported by Report with reference to the CBA.

According to the information, the lower limit of the interest rate corridor has been reduced from 6.25% to 6%, and the upper limit - from 8.25% to 8%.

This decision comes into effect on July 24.

"The decision was made taking into account the correspondence of actual inflation to the trajectory of forecast inflation and its comparison with the target indicator (4±2%), recent global economic processes, the domestic macroeconomic situation, continuing stability in the foreign exchange market, as well as the transmission of monetary policy decisions," the CBA stated.

The next meeting of the CBA Board on the discount rate will be held on September 10.