11:46 - 8.09.2025

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September 8, Fineko/abc.az. ING Group, the Netherlands’ largest banking group, forecasts that the Central Bank of Azerbaijan (CBA) will keep its refinancing rate unchanged at 7% at its upcoming meeting on September 10.

According to ABC.AZ, since the previous meeting, Azerbaijan’s consumer price index (CPI) has eased to 4.9% year-on-year, falling within the year-end target range of 4 ± 2%.

The forecast notes: "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."