Azerbaijan Central Bank lowers accounting rate to 13%


February 12, Fineko/abc.az. The Central Bank of Azerbaijan (CBA) has reduced the accounting rate from 15% to 13% since 12 February.

Elman Rustamov, Chairman of the Board of the Central Bank of Azerbaijan, also stated that the lower (from 10% to 8%) and upper (from 18% to 16%) thresholds of the interest corridor have been reduced.

"The discount rate has been reduced with taking into account the reduction of average annual inflation in the country to one-digit level and the forecast on improvement of the external balance," Rustamov said.

He added that if you keep the real level of bank interest rates in the positive zone, it is possible to reduce further the accounting rate.