Azerbaijan Interest Rate

The Central Bank of Azerbaijan kept its key refinancing rate at 7.25% during its October 2024 meeting, maintaining borrowing costs at its lowest level since December 2021 after five consecutive rate cuts. The bank also upheld the interest rate corridor, with the upper limit set at 8.25% and the lower limit at 6.25%. This decision reflects the alignment of actual and projected inflation with the target range of 4±2%, alongside assessments of domestic and external inflationary factors. Meanwhile, the country's headline inflation rate remained unchanged at 3.5% in September, which is its highest reading since October 2023.