2024-03-29 16:17:56
The Central Bank of Azerbaijan reduced the interest rate.
Day.Az reports that the Central Bank reduced the discount rate from 7.75% to 7.5%, and the upper limit of the interest corridor from 8.75% to 8.5%. The lower limit of the interest rate corridor was kept unchanged at 6.25%.
But after this decision, will banks lower their loan rates? Because citizens are dissatisfied with the current high loan rates.
According to economist-expert Khalid Karimli, the lowering of interest rates will affect commercial banks after a certain period of time.
The expert said that another issue is the volume of demand. Because the interest rate of bank loans is formed on the basis of supply and demand in the market.
By the way, the Central Bank also announced the reason for the increase in demand for dollars. It was stated that the reason is the expansion of import financing as a result of public investments and the activation of private sector consumption.
Xezerxeber.az presents more detailed video material on the topic.