CB reduces accounting rate again

CB reduces accounting rate again
# 30 July 2014 16:47 (UTC +04:00)

Baku. Parviz Nuriyev – APA-Economics. Central Bank of Azerbaijan has reduced accounting rate again.

CBA told APA-Economics that the Board of Directors of the bank has passed a decision on reduction of accounting rate from 4.25% to 3.5% since July 30, 2014. Moreover, the parameters of the interest rate corridor have also been changed, upper limit of the corridor reduced from 6% to 5%, lower limit – from 0.5% to 0.1%. At the same time, reserve requirements of the banks on all deposits reduced from 3% to 2%.,

Economic growth in the first half of 2014 made 2.1%, including non-oil economy increased by 7%.

Average annual inflation dropped 0.4% to 1.6%.

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THE OPERATION IS BEING PERFORMED