Central Bank of Azerbaijan decreases discount rate
Baku, Azerbaijan, Feb. 1
By Sara Israfilbayova – Trend:
The Central Bank of Azerbaijan (CBA) has decreased the discount rate from 9.75 percent to 9.25 percent, Elman Rustamov, chairman of the CBA, said at a press conference in Baku on Feb. 1, Trend reports.
The uppermost limit of the percentage corridor has been reduced from 11.75 percent to 11.25 percent, the lowest limit of the percentage corridor has been reduced from 7.75 percent to 7.25 percent.
"A decrease in the discount rate and interest rate parameters is stipulated by the stabilization of oil prices, a low inflation and a stable macroeconomic situation,” Rustamov said.
The CBA's previous meeting was held in December 2018, when the CBA decided to keep the discount rate unchanged.
In total, the CBA reduced the discount rate four times during 2018: in February from 15 percent to 13 percent, in April from 13 percent to 11 percent, in June from 11 percent to 10 percent, in October from 10 percent to 9.75 percent. The discount rate was kept unchanged in August and December.