Azerbaijani Central Bank’s discount rate may be reduced to 12% (UPDATE)
Details added (first version posted on 13:12)
Baku, Azerbaijan, June 21
By Anvar Mammadov – Trend:
The Azerbaijani Central Bank’s discount rate may be reduced to 12 percent, Zakir Nuriyev, head of the Azerbaijan Banks Association (ABA), told reporters in Baku June 21.
“Of course, the monetary situation in Azerbaijan is not unambiguous,” Nuriyev said. “However, I believe the positive trends that have emerged create all the conditions for lowering the discount rate. I will once again note that everything depends on the decision of the monetary authorities.”
Earlier, Elman Rustamov, the head of the Central Bank of Azerbaijan (CBA), told reporters in Baku that revision of the discount rate will be discussed in June at a regular meeting of the CBA Board.
Currently, the CBA discount rate is 15 percent. The CBA last revised its discount rate in September 2016 and increased it to 15 percent.