Central Bank of Azerbaijan to change discount rate

16:26 - 18.12.2020


December 18, Fineko/abc.az. The Board of the Central Bank of Azerbaijan has taken a decision to reduce the discount rate from 6.5% to 6.25%.

ABC.AZ reports that the lower limit of the interest rate corridor is set at 5.75% and the upper limit at 6.75%.

The statement of the country's main bank says that in October the CBA Board decided to keep the discount rate unchanged at 6.5%, while the lower limit of the interest rate corridor was set at 6% and the upper limit at 7%.

The CBA statement says that amid the weakening external and domestic demand under the influence of the coronavirus pandemic, the actual and projected inflation rate remains below the center of the adopted target range, which indicates that there is potential for monetary policy easing.

 

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