11:45 - 25.10.2019

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October 25, Fineko/abc.az. The Central Bank of Azerbaijan has lowered the discount rate by 0.25%.

According to the CBA, the stabilization of oil prices in recent months, low inflation and stable macroeconomic situation led to the reduction of the rate from 8% to 7.75%.

This decision came into force from 25 October.

"The lower threshold of the interest rate corridor has been reduced from 6.25% to 6% and the upper one from 9.75% to 9.5%," the CBA informs.

The next meeting to consider the issue of the discount rate will be held on 13 December 2019.

This is the seventh reduction in the discount rate by the CBA in 2019. Previously it was reported that on 1 February 2019 the CBA cut the discount rate 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%, on 26 July to 8.25%, on 13 September to 8%.

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

On 12 February 2018 the CBA lowered the discount rate from 15% to 13%, on 9 April 2018 from 13% to 11%, and on 14 June 2018 from 11% to 10%. On 1 August 2018 the Bank decided to keep the rate at the level of 10%. On 30 October 2018 the rate was cut from 10% to 9.75% and on 26 December 2018 the CBA Board decided to keep the rate at 9.75%.