The Central Bank of Azerbaijan (CBA) is expected to keep the base rate unchanged throughout 2022, Trend reports via economic review from the Renaissance Capital investment bank.
The current policy rate will most likely be kept at the same level for a while - at 7.75 percent. However, as Renaissance Capital forecasts, a slight decline by 0.75 percentage points to 7 percent is expected in 2023.
According to the Bank’s estimations, the CBA will decrease its base rate further in 2024 - by 0.5 percentage points to 6.5 percent.
Also, Azerbaijan's GDP growth is expected at 3 percent in 2022, and at 2.7 percent - in 2023, Renaissance Capital said.
Earlier this month, the CBA has decided to leave the base rate unchanged at the level of 7.75 percent on July 29, 2022. The upper limit of the interest corridor remained at the level of 9.25 percent, and the lower limit at 6.25 percent.