The Central Bank of the Republic of Azerbaijan kept its discount rate unchanged at 6.5% for a fourth consecutive meeting on September 23, 2026, maintaining borrowing costs at the lowest level since September 2021. However, the lower bound of its interest rate corridor was cut by 0.5 percentage points to 5%, while the upper bound remained at 7.5%. The move widened the corridor to encourage interbank trading amid excess liquidity, while keeping the key rate and upper bound unchanged to stabilize inflation expectations. Annual inflation eased to 5.7% in August from 5.8% in July, remaining within the target range, while core inflation stood at 5.1%. Foreign currency supply continued to exceed demand, helping reserves rise 32.9% to a record $15.3 billion in the first eight months of 2026. The bank maintained that global energy and food prices remain key upside risks to inflation, while future decisions will depend on inflation, foreign exchange market conditions, and banking 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 October 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
2026-06-24 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 07:00 AM Interest Rate Decision 6.5% 6.5% 6.5%
2026-11-04 06:00 AM Interest Rate Decision 6.5%
2026-12-23 06:00 AM Interest Rate Decision


Related Last Previous Unit Reference
Foreign Exchange Reserves 15301.30 13767.90 USD Million Aug 2026
Interest Rate 6.50 6.50 percent Sep 2026
Money Supply M0 19166.80 19170.80 AZN Million Aug 2026
Money Supply M1 34212.20 33641.70 AZN Million Aug 2026
Money Supply M2 44416.60 43841.80 AZN Million Aug 2026
Money Supply M3 54978.00 53925.50 AZN Million Aug 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%, Widens Rate Corridor
The Central Bank of the Republic of Azerbaijan kept its discount rate unchanged at 6.5% for a fourth consecutive meeting on September 23, 2026, maintaining borrowing costs at the lowest level since September 2021. However, the lower bound of its interest rate corridor was cut by 0.5 percentage points to 5%, while the upper bound remained at 7.5%. The move widened the corridor to encourage interbank trading amid excess liquidity, while keeping the key rate and upper bound unchanged to stabilize inflation expectations. Annual inflation eased to 5.7% in August from 5.8% in July, remaining within the target range, while core inflation stood at 5.1%. Foreign currency supply continued to exceed demand, helping reserves rise 32.9% to a record $15.3 billion in the first eight months of 2026. The bank maintained that global energy and food prices remain key upside risks to inflation, while future decisions will depend on inflation, foreign exchange market conditions, and banking liquidity.
2026-09-23
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