ING declares forecast on Central Bank of Azerbaijan

15:16 - 22.02.2024

February 22, Fineko/ The International Corporation of Banking & Financial Services of the Netherlands ING (Internationale Nederlanden Groep) has lowered the forecast on monetary policy in Azerbaijan by 0.5 percentage points.

ABC.AZ reports that ING lowered the forecast of the Central Bank of Azerbaijan (CBA) on the discount rate for 2024 from 8% to 7.5%, for the first quarter of 2025 from 7.75% to 7.25%, and for the end of 2025 from 7% to 6.5%.

The CBA has lowered the discount rate with the last three decisions. Last time, on January 31, 2024, by CBA Board’s decision, the discount rate was cut from 8.00% to 7.75%, the lower limit of the interest rate corridor – from 6.5% to 6.25%, and the upper limit of the interest rate corridor – from 9.0% to 8.75%. The Central Bank will announce its next decision on the discount rate on March 28.

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