The Netherlands' largest banking group - ING Group - predicts that the Central Bank of Azerbaijan will keep the refinancing rate at 7% at its next meeting on September 10, Report informs.
"We expect the Central Bank of Azerbaijan (CBAR) to maintain the refinancing rate at 7.00% at the 10 September meeting. Since the last meeting, CPI growth slowed to 4.9% YoY in July, aligning with the 4±2% year-end target. Moreover, we do not exclude the possibility of a further cut being discussed, given the weak GDP growth of 0.9% YoY as of 7M25, including -2.3% YoY in July, and the easing in PPI growth. However, the shrinking trade surplus and continued outperformance of bank lending vs. funding call for maintaining higher real interest rates. The CBAR commentary will likely focus on FX market flows," reads the message.
On July 23, the Board of the Central Bank of Azerbaijan decided to reduce the key rate by 0.25 percentage points from 7.25% to 7%, the lower limit of the interest rate corridor was also reduced from 6.25% to 6%, and the upper limit from 8.25% to 8%.
Bütün xəbərlər Facebook səhifəmizdə
.jpg)
.jpg)
USD
EUR
GBP
RUB
