BAKU, Azerbaijan, February 1. The Central Bank of Azerbaijan (CBA) decided to raise the interest rate by 0.25 percentage points to 8.5 percent, Trend reports via the CBA.
According to the CBA, the upper limit of the interest rate corridor was raised to 9.5 percent, meanwhile, the lower limit - to 6.75 percent.
Previously, on December 16, 2022, the Central Bank decided to raise the interest rate by 0.25 percentage points – from 8 percent to 8.25 percent. The upper limit of the interest rate corridor remained at 9.25 percent, and the lower limit was raised by 1.25 percentage points to 6.25 percent.
On October 28, 2022, the CBA raised the interest rate by 0.25 percentage points to 8 percent. The upper limit of the interest corridor was at the level of 9.25 percent, while the lower limit was raised by one percentage point up to five percent.