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Azeri c.bank cuts refinancing rate to 4.75 pct from 5.00 pct from Feb 11
February 8, 2013 / 1:36 PM / 5 years ago

Azeri c.bank cuts refinancing rate to 4.75 pct from 5.00 pct from Feb 11

BAKU, Feb 8 (Reuters) - Azerbaijan’s central bank cut its key refinancing rate to 4.75 percent from 5.00 percent from Feb 11 on Friday amid low annual inflation.

“Given a low level of inflation, growth rate of money supply, as well as priorities for diversification of the national economy...central bank decided to reduce the refinancing rate to 4.75 percent from 5.00 percent from 11 February 2013 onward,” the bank said in a statement.

Average annual inflation in Azerbaijan was 1.1 percent, while the manat currency remained stable. (Reporting by Lada Evgrashina; Writing by Margarita Antidze; Editing by Megan Davies)

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