ING: exchange rate in Azerbaijan to remain stable this year

The Dutch company ING Group predicts that the Central Bank of Azerbaijan (CBA) will keep the interest rate stable this year, Azernews reports.

It was reported that CBA will keep the discount rate unchanged at 8 percent in 2024.

According to the report, the Central Bank will reduce the discount rate to 7.75 percent in the first quarter of 2025, and to 7 percent by the end of the year.

It should be noted that on December 20 of last year, the Board of Directors of CBA made a decision to reduce the discount rate by 0.5 percentage points to 8 percent.

According to the information, the lower limit of the interest corridor was reduced by 0.5 percentage points to 6.5 percent, and the upper limit was reduced by 0.5 percentage points to 9 percent.