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CBA cuts the discount rate 6 times in 2019

13.09.2019,15:45


September 13, Fineko/abc.az. Since September 13, the Central Bank of Azerbaijan (CBA) has reduced the discount rate by 0.25%.

CBA reports that stabilization of oil prices in recent months, low inflation and a stable macroeconomic situation have led to a reduction in the rate from 8.25% to 8%.

The decision entered into force on September 13.

“The lower threshold of the interest corridor was kept at 6.25%, the upper one was reduced from 10.25% to 9.75%,” the information says.

The report said that the next meeting, which will consider the issue of the discount rate, will be held October 25, 2019.

This is the sixth reduction in the CBA discount rate in 2019. As previously reported, on February 1, 2019, the CBA reduced the discount rate from 9.75% to 9.25%, on March 15 - from 9.25% to 9%, on April 26 - from 9% to 8.75%, on June 7 - up to 8.5%, July 26 - up to 8.25%.

During 2018, the rate was gradually reduced from 15% to 9.75%.

On February 12, 2018, the CBA lowered the discount rate from 15% to 13%. On April 9, 2018, the rate was reduced from 13% to 11%. On June 14, 2018, the rate was reduced from 11% to 10%. On August 1, 2018, the bank decided to keep the rate at 10%. On October 30, 2018, the rate was reduced from 10% to 9.75%. On December 26, 2018, the CBA board decided to keep the rate at 9.75%.