The Management Board (MB) of the Central Bank of Azerbaijan (CBA) made a decision to raise the discount rate by 0.25 percentage points to 8.75%, Report informs, citing CBA.

The interest rate floor is increased by 0.25% to 7% and the ceiling is increased by 0.25% to 9.75%.

“This decision is based on the dynamics of factors that have an increasing and decreasing effect on inflation in the internal and external environment,” the Central Bank said in a statement.