January 31, 2020 / 7:28 AM / a month ago

Azerbaijan's c.bank cuts refinancing rate to 7.25%

BAKU, Jan 31 (Reuters) - Azerbaijan’s central bank has cut its refinancing rate to 7.25% from 7.50%, governor Elman Rustamov told a briefing on Friday.

The central bank also adjusted its rate corridor, setting a lower boundary of 5.5% and an upper boundary of 9.0%, compared with 5.75% and 9.25% previously.

Rustamov had previously said the central bank planned to continue monetary policy softening in 2020, having cut the refinancing rate eight times in 2019. (Reporting by Nailia Bagirova; Writing by Maria Kiselyova, Editing by Alexander Marrow)

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