The Central Bank of Azerbaijan cut the refinancing rate by 25bps to 6.5 percent on September 18th, bringing borrowing costs to its lowest since February of 2016. The move aims to support aggregate demand by keeping inflation within the target range of 4 ± 2% and thus accelerate the recovery process. In August, the annual inflation rate came in at 2.9 percent, the same as in the previous month.
Interest Rate in Azerbaijan averaged 6.88 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 October 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.