The central bank of Azerbaijan slashed its refinancing rate to 7 percent during an unscheduled meeting in June 2020, to continue supporting the economy amid low oil prices and an outbreak of the new coronavirus. Policymakers also adjusted its rate corridor, setting its lower boundary at 6.5% and its upper boundary at 7.5%, compared with the 6.75% and 8% in place previously.
Interest Rate in Azerbaijan averaged 6.89 percent from 2005 until 2020, reaching an all time high of 15 percent in September of 2016 and a record low of 2 percent in December of 2009. This page provides the latest reported value for - Azerbaijan Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Azerbaijan Interest Rate - values, historical data and charts - was last updated on July of 2020.
Interest Rate in Azerbaijan is expected to be 6.75 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Azerbaijan to stand at 6.00 in 12 months time. In the long-term, the Azerbaijan Interest Rate is projected to trend around 6.00 percent in 2021, according to our econometric models.