The international banking and financial services corporation of the Netherlands Internationale Nederlanden Groep (ING) has lowered its forecast regarding monetary policy in Azerbaijan by 0.5%, Paralel.Az-Economics reports.

ING decreased the forecast of the Central Bank of Azerbaijan (CBA) on the interest rate for 2024 from 8% to 7.5%, for the first quarter of 2025 from 7.75% to 7.25%, and for the end of 2025 from 7% to 6.5%.

Note that, the Central Bank of Azerbaijan reduced interest rate with its last three decisions. On the last time, on January 31 2024, the interest rate was decreased from 8,5 % to 7.75%, the lower limit of the interest corridor was decreased from 6.5% to 6.25%, and the upper limit of the interest corridor was decreased from 9.0% to 8.75% at the decision of the Board of the Central Bank of Azerbaijan. CBA will announce its next decision on the interest rate on March 28.