The Central Bank of Azerbaijan raised its official discount rate by 25 basis points to 6.5% on September 17th 2021, citing an intensification of inflationary pressures in the global economy, namely in prices of food, raw materials, transportation and logistics. The 12-month inflation rate climbed to 6.7% in August, deviating from the central bank target range of 2% to 6%, driven mostly by prices of food and services. Nonetheless, GDP advanced 3.6% in the January-August period of 2021 over the same period a year earlier, showing the economy remained on the growth trajectory amid ongoing macroeconomic stimuli and rising external and domestic demand. Looking ahead, policymakers said global commodity prices, import prices, pandemic-related production and logistical issues, and a faster growth rate of aggregate demand all constituted risk factors that could lead to stronger inflationary pressures. source: Central Bank of the Republic of Azerbaijan
Interest Rate in Azerbaijan averaged 6.84 percent from 2005 until 2021, 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 September of 2021.
Interest Rate in Azerbaijan is expected to be 6.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Azerbaijan Interest Rate is projected to trend around 6.75 percent in 2022 and 7.00 percent in 2023, according to our econometric models.