The Central Bank of the Republic of Azerbaijan kept its discount rate unchanged at 6.5% for a fourth consecutive meeting in July 2026, maintaining borrowing costs at the lowest level since September 2021. The interest rate corridor was also left intact, with the lower bound at 5.5% and the upper bound at 7.5%, as policymakers judged inflation risks to be broadly balanced. Annual inflation stood at 5.8% in June from a 5.6% increase in the previous month, remaining within the bank's target range, while core inflation stood at 5.5%. The central bank noted that foreign exchange supply continued to significantly exceed demand, helping lift international reserves by 19.5% to $13.8 billion in the first half of the year. It reiterated that geopolitical tensions and higher global energy and food prices remain key upside risks to inflation, with future policy decisions guided by inflation forecasts, macroeconomic conditions, foreign exchange market developments, and banking sector liquidity. source: Central Bank of the Republic of Azerbaijan

The benchmark interest rate in Azerbaijan was last recorded at 6.50 percent. Interest Rate in Azerbaijan averaged 7.04 percent from 2005 until 2026, reaching an all time high of 15.00 percent in September of 2016 and a record low of 2.00 percent in December of 2009. This page provides the latest reported value for - Azerbaijan Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Azerbaijan Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2026.

The benchmark interest rate in Azerbaijan was last recorded at 6.50 percent. Interest Rate in Azerbaijan is expected to be 6.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Azerbaijan Interest Rate is projected to trend around 6.00 percent in 2027 and 5.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-05-06 06:00 AM Interest Rate Decision 6.5% 6.5% 6.5%
2026-06-24 07:00 AM Interest Rate Decision 6.5% 6.5% 6.5%
2026-07-31 06:00 AM Interest Rate Decision 6.5% 6.5%
2026-09-23 06:00 AM Interest Rate Decision 6.5%
2026-11-04 06:00 AM Interest Rate Decision
2026-12-23 06:00 AM Interest Rate Decision


Related Last Previous Unit Reference
Foreign Exchange Reserves 13157.60 12712.40 USD Million Jun 2026
Interest Rate 6.50 6.50 percent Jul 2026
Money Supply M0 18994.80 18884.80 AZN Million Jun 2026
Money Supply M1 33632.10 32641.70 AZN Million Jun 2026
Money Supply M2 43254.20 41961.80 AZN Million Jun 2026
Money Supply M3 52924.50 51500.40 AZN Million Jun 2026


Azerbaijan Interest Rate
In Azerbaijan, interest rate decisions are taken by the Central Bank of Azerbaijan. The official interest rate is the Refinancing Rate.
Actual Previous Highest Lowest Dates Unit Frequency
6.50 6.50 15.00 2.00 2005 - 2026 percent Daily

News Stream
Azerbaijan Holds Key Rate at 6.5%
The Central Bank of the Republic of Azerbaijan kept its discount rate unchanged at 6.5% for a fourth consecutive meeting in July 2026, maintaining borrowing costs at the lowest level since September 2021. The interest rate corridor was also left intact, with the lower bound at 5.5% and the upper bound at 7.5%, as policymakers judged inflation risks to be broadly balanced. Annual inflation stood at 5.8% in June from a 5.6% increase in the previous month, remaining within the bank's target range, while core inflation stood at 5.5%. The central bank noted that foreign exchange supply continued to significantly exceed demand, helping lift international reserves by 19.5% to $13.8 billion in the first half of the year. It reiterated that geopolitical tensions and higher global energy and food prices remain key upside risks to inflation, with future policy decisions guided by inflation forecasts, macroeconomic conditions, foreign exchange market developments, and banking sector liquidity.
2026-07-31
Azerbaijan Holds Rates for 3rd Meeting
The Central Bank of the Republic of Azerbaijan kept its discount rate unchanged at 6.5% for a third consecutive meeting in June 2026, maintaining borrowing costs at the lowest level since September 2021. The interest rate corridor was also left intact, with the lower bound at 5.5% and the upper bound at 7.5%, as policymakers judged inflation risks to be broadly balanced. Annual inflation stood at 5.6% in May, while non-food inflation stayed relatively subdued. The central bank noted favorable foreign exchange market conditions, declining dollarization, and strong foreign currency inflows. External conditions also remained supportive, helped by higher energy prices and a stronger trade balance. However, policymakers warned that global inflation risks, including higher food, fertilizer, and transportation costs, could affect domestic prices. The bank reiterated that future policy decisions will depend on inflation dynamics, external developments, and overall macroeconomic conditions.
2026-06-24
Azerbaijan Holds Key Rate at 6.5%
The Central Bank of the Republic of Azerbaijan kept its discount rate unchanged at 6.5% in May 2026, while also leaving the interest rate corridor unchanged, with the lower bound at 5.5% and the upper bound at 7.5%. The decision reflects inflation remaining within target, with headline inflation at 5.6% in March 2026 and core inflation at 5.5%, driven by food, non-food goods, and services. External conditions remain supportive, with a solid trade surplus and improved current account outlook supported by higher energy prices and non-oil exports. The FX market showed excess supply, boosting reserves and reducing deposit dollarization, while liquidity stayed stable and money market rates remained near the policy rate. Inflation is projected at 5.9% in 2026 and 4.5% in 2027, remaining within target, though risks are tilted upward from global cost pressures, geopolitical tensions, and imported inflation. Future policy depends on inflation expectations and macroeconomic conditions.
2026-05-06