10:49 - 29.04.2024

---

April 29, Fineko/abc.az. On May 1, the Board of Directors of the Central Bank makes the third decision of 2024 on the discount interest rate.

The CBA began to cut interest rates from November 2023, when inflation in the country returned to its targets, ABC.AZ reports. The benchmark percentages, which were 9% by November 2023, fell to 7.50%, with 25 and 50 basis points reduced at each of the meetings until March 2024. In total, interest rates of 150 basis points were reduced to four sessions.

100 basis points = 1 percentage point.

The reason why the regulator raised rates in 2022-2023 was to reduce inflation, which is growing worldwide against amid post-pandemic and geopolitical tensions, as well as its impact on our country.