Azerbaijan Central Bank cuts accounting rate by 0.5%


February 1, Fineko/ The Central Bank of Azerbaijan (CBA) has once again reduced the accounting rate.

CBA chairman of board Elman Rustamov has stated that the accounting rate was lowered from 9.75% to 9.25% by the decision of the Bank’s Board.

The CBA cut the accounting rate from 15% to 13% on 12 February 2018. On 9 April the rate was reduced for the second time from 13% to 11%. By Bank's decision from 14 June, the accounting rate was cut from 11% to 10%. On 1 August, the Bank decided to hold the rate at the level of 10%. On 30 October, the rate was reduced from 10% to 9.75%.

Last time in 2018, on 26 December the Board decided to hold the rate at the level of 9.75%.