Internationale Nederlanden Groep (ING) the international banking and financial services corporation of the Netherlands, has kept its forecast regarding monetary policy in Azerbaijan stable, APA-Economics reports.
ING set the forecast of the Central Bank of Azerbaijan (CBA) on the accounting interest rate for 2024 at 8% as ING did not change the forecast.
According to ING’s forecast, the CBA will only reduce interest rate to 7.75% in the first quarter of 2025, and in the end of year, it will be reduced to 7%.
Note that, the Central Bank of Azerbaijan reduced interest rate with its last two decisions. On the last time, on December 20 of last year, interest rate was decreased from 8,5 % to 8.00%, the lower limit of the interest corridor was decreased from 7.0% to 6.5%, and the upper limit of the interest corridor was decreased from 9.5% to 9.0% at the decision of the Board of the Central Bank of Azerbaijan. CBA will announce its decision on the interest rate for the first time of this year on January 31.
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