Fitch Solutions did not update its forecast regarding the monetary policy in Azerbaijan in 2023, APA-Economics reports citing the International Rating Agency.
Fitch Solutions forecasted that Azerbaijan's Central Bank will raise the financing rate to 9.25% in 2023. This is the same as the agency's July forecast.
Fitch Solutions, also forecasted that the exchange rate of the manat will remain stable in 2023.
Note that, currently, the Central Bank’s interest rate is 9.0%, the lower limit of the interest corridor is 7.5%, and the upper limit is 10.0%. The Central Bank will announce its next decision on the interest rate on November 1.