CBA lowers limit of interest rate corridor

By Trend

Central Bank of Azerbaijan has decided to reduce the lower limit of the interest rate corridor by 2.25 percent, from 6.25 to 4 percent, Trend reports via CBA.

"Central Bank of Azerbaijan has set a task to gradually bring interbank interest rates closer to the interest corridor, preventing sharp fluctuations in interest rates in various segments of the financial market. Depending on macroeconomic situation and situation on the interbank market, as well as the consequences of introducing new instruments to various segments of the financial market, the limits of the Central Bank's interest rate corridor will decrease," CBA said.

The discount rate is 7.75 percent, and the upper and lower corridors are 9.25 and 6.25 percent, respectively.