CBA reduces discount rate

The Central Bank of Azerbaijan (CBA) has announced a decrease in the discount rate by 0.25 percent from 8.5% to 8.25, Report informs referring to the CBA chairman Elman Rustamov.

According to him, the upper limit of the interest corridor was set at 10.25% and the lower limit at 6.25% (at a ±2%-symmetric diapason).

The decision will enter into force on July 29. The CBA will consider the interests on September 13.