Baku: The Netherlands’ largest financial group, ING, has forecast that the Central Bank of Azerbaijan (CBA) will maintain its interest rate at a steady level over the next year, APA-Economics reports.
According to Azeri-Press News Agency, ING Group has projected that the Central Bank’s interest rate will remain at 7.00% from the third quarter of this year through the third quarter of 2026. The financial group anticipates an increase in the interest rate to 7.25% in the third quarter of 2026 and further to 7.75% in the fourth quarter. Analysts at ING predict a significant rise in the interest rate by 2027, potentially reaching 10.25%.
The Central Bank of Azerbaijan, which had kept the interest rate stable at 7.25% since May of the previous year, reduced it by 0.25 percentage points to 7.00% on July 23 of this year.