BAKU, Azerbaijan, December 18. The Central Bank of Azerbaijan (CBA) has confirmed that the inflation forecast for the end of 2024 and 2025 remains within the target range of 4±2 percent, as stated in the latest monetary policy update, Trend reports.
"The current monetary policy aims to maintain inflation within the target range and strengthen inflation expectations. The basic scenario projects inflation will remain within the target range (4±2 percent) at the end of 2024 and 2025,” the CBA said.
Moreover, the CBA projected an annual inflation rate of 5.1 percent for the end of 2024 and 5.8 percent for 2025 in the previous statement regarding the interest rate.
To note, the Central Bank of Azerbaijan (CBA) decided to keep the refinancing rate unchanged at the level of 7.25 percent.
According to the CBA, the upper and lower limits of the interest rate corridor also remained unchanged at 8.25 percent and 6.25 percent, respectively.
The decision to keep the interest rate unchanged was made based on actual and projected inflation within the target range (4±2%) and an analysis of macroeconomic trends.
Future decisions regarding the interest rate corridor will be based on actual and projected inflation, as well as the dynamics of internal and external risk factors. The Central Bank continues to analyze economic processes and monitor financial markets.
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