April 26, 2019 / 7:21 AM / 3 months ago

Azerbaijan's central bank cuts rate to 8.75 pct from 9 pct

BAKU, April 26 (Reuters) - Azerbaijan’s central bank said on Friday it had cut its refinancing rate to 8.75 percent from 9 percent.

The central bank also lowered its rate corridor by the same margin, nudging the lower boundary down to 6.75 percent and the upper boundary down to 10.75 percent, from 7 and 11 percent before, respectively.

The bank said it kept its inflation forecast for 2019 at 2-6 percent. (Reporting by Nailia Bagirova; Writing by Andrey Kuzmin; Editing by Maria Kiselyova)

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