May 1, 2020 / 8:52 AM / a month ago

UPDATE 1-Azerbaijan's central bank keeps refinancing rate at 7.25%

(Adds detail)

BAKU, May 1 (Reuters) - Azerbaijan’s central bank said on Friday it had held its refinancing rate at 7.25%.

The central bank also adjusted its rate corridor, setting its lower boundary at 6.75% and its upper boundary at 8%, compared with 6.75% and 9.0% previously.

Central bank governor Elman Rustamov said it saw inflation at between 2% and 6% this year.

Azerbaijan, the third largest oil producer among ex-Soviet countries after Russia and Kazakhstan, has felt the economic impact of low oil prices and an outbreak of the new coronavirus in the country.

The country has so far recorded 1,804 coronavirus cases and 24 deaths from the virus.

The central bank’s next meeting to determine the refinancing rate will be held on June 19. (Reporting by Nailia Bagirova and Maria Kiselyova; Writing by Margarita Antidze and Gabrielle Tétrault-Farber; Editing by Mark Potter)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below