The Management Board (MB) of the Central Bank of Azerbaijan (CBA) has decided to reduce the discount rate by 0.25 percentage points to 6.5 %.
Modern.az reports this, citing the CBA.
According to the information, the lower bound of the interest rate corridor has been reduced from 5.75 % to 5.5 %, and the upper bound from 7.75 % to 7.5 %.
"When making the decision regarding the interest rate corridor, the alignment of actual and forecasted inflation with the target interval (4±2%), the current situation in global economic activity and international financial markets, key trends observed in domestic macroeconomic conditions, as well as the transmission of monetary policy decisions to financial markets and the real sector were taken into account", - the CBA stated.
The decision comes into force tomorrow.
The next decision regarding the parameters of the interest rate corridor will be made based on the direction of forecasted and actual inflation, as well as the results of macroeconomic analyses. The CBA will continue to use all available instruments to ensure price stability.
Information regarding the next decision on the parameters of the interest rate corridor will be announced to the public on April 2.
