Azerbaijan's Central Bank lowers discount rate 50 basis points to 8.5%

BAKU. Nov 1 (Interfax) - The Central Bank of Azerbaijan has decided to reduce the discount rate to 8.5% from 9% per annum as of November 2, the Central Bank said in a press release.

The lower threshold of the interest rate corridor was reduced to 7% from 7.5%, the upper threshold - to 9.5% from 10%.

Prior to this decision, the Central Bank kept the discount rate at 9% starting in May of this year.

The next time the Central Bank meets to discuss the discount rate will be on December 20.