The Central Bank of Azerbaijan (CBA) will make its next decision regarding the interest rate this week, on September 10, APA-Economics reports, citing CBA.
The Central Bank last reduced the interest rate on July 23 for the first time in a year, lowering it from 7.25% to 7%.
The CBA noted that the continued alignment of the inflation forecast with the target for the current year and the ongoing stability in the currency market create grounds for easing monetary policy. Future decisions regarding the parameters of the interest rate corridor will depend on the dynamics of actual and projected inflation, as well as external and internal risk factors.
Recall that the Netherlands' largest financial group, ING, announced at the beginning of August that it forecasts the Central Bank of Azerbaijan will keep the interest rate unchanged over the next year. In addition, the international economic statistics portal "Trading Economics" also lowered its updated forecast for the CBA's interest rate from 7.25% to 7.00% for the third and fourth quarters of this year.
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