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Trading Economics: Central Bank of Azerbaijan will reduce interest rate to 6.5% this year

01 July 2024 11:11 (UTC +04:00)

An international economic statistics portal Trading Economics forecasted that the Central Bank of Azerbaijan (CBA) will further reduce the interest rate APA-Economics reports citing portal.

Interest Rate in Azerbaijan is expected to be 7.00 % by the end of this quarter, and 6.5% at the end of the year according to Trading Economics global macro models and analysts expectations.

“In the long-term, the Azerbaijan Interest Rate is projected to trend around 5.50 percent in 2025 and 5.00 percent in 2026, according to our econometric models,” Trading Economics added.

Note that the last time on June 21 of this year, by the decision of the CBA Management Board, the interest rate in Azerbaijan was 7.25%, the lower limit of the interest corridor was 6.25%, and the upper limit of the interest corridor was kept unchanged at 8.25%.