The Board of the Central Bank of Azerbaijan (CBA) has decided to reduce the interest rate from 6.75 percent to 6.5 percent.

“The lower limit of the interest rate band has been set at six percent and the upper limit of the interest rate band has been estimated at seven percent,” the bank said.

This decision is aimed at supporting aggregate demand, keeping the inflation rate to maintain macroeconomic stability (4 ± 2 percent) and thereby accelerating the process of economic recovery.

The accepted level of the interest rate makes it possible to control the dynamics of inflationary processes in the short and medium term.