Discount rate of Azerbaijan’s Central Bank should be around 16% (UPDATE)

Details added (first version posted on 11:31)

Baku, Azerbaijan, March 11
Trend:

The discount rate of the Central Bank of Azerbaijan should be around 16 percent, head of PASHA Bank's board Taleh Kazimov said March 11.

The Central Bank set the discount rate at seven percent on March 4, 2016, compared to five percent that was effective from Feb.15, 2016.

Kazimov added that the upper limit on insured deposits should be increased to 16 percent.