Central Bank cuts rate of discount by 0.25%

12:52 - 15 March 2019

March 15, Fineko/abc.az. The Central Bank of Azerbaijan (CBA) has reduced the accounting rate since 15 March.

The CBA reports that a decision was made to reduce the accounting rate to 9% from 9.25%.

"Under the current macroeconomic conditions, the cutting of the accounting rate is linked with the fact that real interest rates remain in the positive zone that serves to neutralize external and internal inflation risks. In the future, the reaction of monetary policy will depend on the dynamics of inflation and the assessment of the balance of risks affecting it," the CBA informed.

The next meeting of the CBA to be held on 26 April 2019 is likely to consider the question of the accounting rate.

The CBA reduced the accounting rate from 15% to 13% on 12 February 2018. On 9 April 9 the rate was cut from 13% to 11%. The Bank's decision from 14 June reduced the rate from 11% to 10%. On 1 August the Bank decided to keep the rate at the level of 10%. On 30 October the rate was decreased from 10% to 9.75%. On 26 December 2018 the CBA Board decided to maintain the rate at the level of 9.75%. On 1 February 2019 the CBA reduced the accounting rate from 9.75% to 9.25%.

Azerbaijan Central Bank cuts accounting rate by 0.5%