Central Bank of Azerbaijan cuts refinancing rate to 8% per annum

The Central Bank of Azerbaijan (CBA) has cut the refinancing rate, or discount rate, to eight per cent per annum from 8.5 per cent per annum.

The lower threshold of the interest rate band (the floor) declines to 6.5 per cent pa from 7 per cent per annum, and the upper threshold of the interest rate band (the cap) decreases to 9 per cent pa from 9.5 per cent per annum, Interfax reports citing the CBA's press release.

The CBA last revised the refinancing rate on November 2, when the regulator cut the rate by 50 basis points to 8.5 per cent per annum.