CBA to cut discount rate to 7% this year - Forecast

12:33 - 15.04.2024

April 15, Fineko/ The Central Bank of Azerbaijan (CBA) will continue to reduce the discount rate in 2024 and 2025.

ABC.AZ informs that this forecast was made by Dutch company ING Group.

According to the forecast, in 2024 the CBA will lower the discount rate to 7%.

"CBA’s discount rate will decrease in the 1st quarter of 2025 to 6.75%, by the end of next year to 6%," ING Group says.

According to the report, company's new forecasts for the current and next years are 0.5 percentage points lower than ING Group's forecasts published on February 22.

On March 28, 2024, the CBA board decided to cut the discount rate by 0.25 p.p. - from 7.75% to 7.5%

The lower limit of the interest rate range was maintained at 6.25% and the upper limit was reduced by 0.25 p.p. - from 8.75% to 8.5%.