16:10 - 26.07.2019

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July 26, Fineko/abc.az. The Central Bank of Azerbaijan (CBA) has reduced the accounting rate from 26 July.

The CBA reports that the stabilization of oil prices in recent months, low inflation and stable macroeconomic situation led to a reduction in the accounting rate from 8.5% to 8.25%.

This decision came into force on 26 July.

"The lower threshold of the interest rate corridor has been reduced from 6.5% to 6.25% and the upper from 10.5% to 10.25%," the CBA said.

A regular meeting to consider the matter of accounting rate will be held on 13 September.

This is the fifth reduction of the CBA accounting rate in 2019. The previous four ones were conducted on 1 February 2019 from 9.75% to 9.25%, on 15 March from 9.25% to 9%, on 26 April from 9% to 8.75%, on 7 June to 8.5%.

In 2018 the accounting rate was gradually reduced from 15% to 9.75%.

On 12 February 2018 the CBA reduced the accounting rate from 15% to 13%.

On 9 April 2018 the accounting rate was reduced from 13% to 11%, on 14 June 2018 from 11% to 10%, on 1 August 2018 was kept at 10%, on 30 October 2018 was reduced from 10% to 9.75%, on 26 December 2018 remained at 9.75%.