Azerbaijan's Central Bank raised refinancing rate to 8%

BAKU. Oct 28 (Interfax-Ukraine) – The Central Bank of Azerbaijan (CBA) has raised its refinancing rate by 25 basis points to 8%.

"By decision of the Central Bank’s management board, the refinancing rate has been raised by 0.25 percentage point to 8%, the lower boundary of the interest rate corridor has been raised by 1 percentage point to 5% and the upper boundary has been kept unchanged at 9.25%," the CBA said on its website.

The CBA raised the refinancing rate by 25 basis points to 7.75% on March 18 and kept it unchanged until now.