Azerbaijani central bank to declare decision on discount rate tomorrow

Business Materials 20 June 2024 10:28 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, June 20. The next decision of the Board of the Central Bank of Azerbaijan (CBA) on the parameters of the interest rate corridor will be announced on June 21, 2024, Trend reports.

Meanwhile, the CBA decreased the discount rate from 7.5 percent to 7.25 percent on May 1. The upper limit of the interest rate corridor was lowered from 8.5 percent to 8.25 percent, while the lower limit was kept unchanged at 6.25 percent.

This decision was made taking into account the comparison of actual and forecasted inflation with the target (4±2 percent), the stabilization of inflation expectations, and changes in the balance of risks.

The Central Bank noted that, taking into account that the inflation forecast has changed downward, the reduction of the upper boundary of the interest rate corridor and the discount rate is aimed at easing monetary conditions.

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