Fitch Solutions updated its forecast regarding the monetary policy in Azerbaijan in 2024, APA-Economics reports.
Fitch Solutions forecasted that Azerbaijan's Central Bank will raise the interest rate up to 7.50% in 2024.
FS believes that the Central Bank will maintain the interest rate unchanged until 2028. For the 2028–2033 period, the Central Bank is expected to set the rate at 7.25%.
Note that on December 18, the Central Bank of Azerbaijan (CBA) will announce its final interest rate decision for this year. In its last four decisions, the CBA's Board of Directors has kept the interest rate unchanged. The Central Bank kept the interest rate unchanged at 7.25%, with the lower bound of the interest rate corridor at 6.25% and the upper bound at 8.25%.
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