Azerbaijan's Central Bank keeps discount rate

The Central Bank of Azerbaijan (CBA) has left its discount rate at 9%, the regulator said in a statement.

"The lower and upper thresholds of the interest rate corridor have been left at 7.5% and 10%, respectively. The decision to keep the discount rate unchanged was made taking into account macroeconomic analyses, updated forecasts, changes in factors of domestic and external inflation and the balance of risks," the statement reads.

The CBA previously raised the discount rate five consecutive times, increasing it by 25 basis points each time. The last increase was to 9% on May 4 and in June the rate was left at 9%.