ING revises Azerbaijan's interest rate forecast for 2024-2025

The Dutch financial services giant, ING Group, has updated its forecast for Azerbaijan's Central Bank's (AMB) interest rate for the years 2024-2025. According to Report, which cites the revised projections, ING now expects AMB to maintain the interest rate at 7% during this period.

The updated projection is 0.5 percentage points higher than the previously announced forecast for both the current year and the next.

Looking further ahead, ING Group anticipates Azerbaijan's interest rate to reach 7.5% by the end of 2026.

On July 31 of this year, the AMB's Board of Directors decided to keep the interest rate unchanged at 7.25%. The lower bound of the interest rate corridor was maintained at 6.25%, while the upper bound remained at 8.25%. The next decision is expected in September, with ING Group projecting the interest rate to decrease to 7% at this meeting.