Maximum rate on insured deposits to be cut in Azerbaijan


February 12, Fineko/abc.az. The Central Bank of Azerbaijan does not exclude reduction of the maximum rate on insured deposits to 13%.

CBA chair Elman Rustamov said that the interest rate lowering is possible amid the reduction of the accounting rate to 13%.

"In any case, the Azerbaijan Deposit Insurance Fund is to make a decision to reduce the maximum interest rate," Rustamov said.