12:12 - 25.10.2019

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October 25, Fineko/abc.az. The Central Bank has made a decision to cut the discount rate from 8% to 7.75%.

ABC.AZ reports that CBA’s chairman Elman Rustamov made such a statement at a press conference held in connection with the announcement of the parameters of the interest rate corridor.

He noted that inflation expectations remain stable. Rustamov noted that the inflation target is still 4% and spoke about the economic growth for the 9 months of this year: "During the survey conducted in 4,250 apartments in 2019, it became known that the majority of respondents expect inflation to happen. A number of notes have been posted since September.

As the Central Bank, we support fees in the national currency. For the past 9 months of this year the growth in the non-oil sector made up 2.5%. For Jan-Sept 2019 exports in the nonoil sector also grew by 4.1%. In the global market the prices for some products increased by 3.3%, and for sugar by 4.1%."

By Elmir Murad