The Central Bank of Azerbaijan (CBA) has reduced the discount rate from 8 to 7.75 percent, CBA Chairman Elman Rustamov said at a press conference on Oct. 25, Trend reports.
According to the chairman, the stabilization of oil prices in recent months, low inflation and the stable macroeconomic situation led to the decrease in the rate.
The decision entered into force on Oct. 25.
This is the seventh decrease in the discount rate in 2019.
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