Baku: The Central Bank of Azerbaijan (CBA) has announced a change in the key interest rate for the first time in a year. The CBA Board of Directors has decided to reduce the discount rate to 7.00%, while adjusting the lower limit of the interest rate corridor to 6.00% and the upper limit to 8.00%.

According to Azeri-Press News Agency, since May 2024, the Central Bank had maintained the key interest rate unchanged. The rate had been held steady at 7.25%, with the lower limit of the corridor at 6.25% and the upper limit at 8.25%.