BAKU, Azerbaijan, April 15. Analysts from the Netherlands-based ING forecast that the Central Bank of Azerbaijan (CBA) will keep the discount rate at seven percent throughout 2024, Trend reports.
According to ING, the discount rate will fall another 25 basis
points to 6.75 percent in the first quarter of 2025, before
dropping to six percent in the fourth quarter.
Meanwhile, as previously reported, in its most recent meeting
(March 28, 2024), the CBA agreed to drop the discount rate from
7.75 percent to 7.5 percent, and the maximum limit of the interest
rate band was reduced from 8.75 percent to 8.5 percent, while the
lower limit remained fixed at 6.25 percent.
To note, the next CBA meeting on the issue of the discount rate is scheduled for the first of May 2024. Generally, the Central Bank's decisions on the interest rate corridor parameters will be made public on June 21, July 31, September 18, October 30, and December 18.
The ING Group is a Dutch multinational banking and financial services firm based in Amsterdam. Its core industries include retail banking, direct banking, commercial banking, investment banking, wholesale banking, private banking, asset management, and insurance. It ranks among the world's largest banks.
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