ING: Azerbaijan Central Bank to Keep Key Rate at 6.75% in Q1 2026

The Central Bank of Azerbaijan (CBA) will maintain its key interest rate at 6.75% for the first quarter of 2026, according to a report from the Dutch ING Group.

According to the group's forecasts, the CBA may raise the key interest rate in the second quarter to 7%. In the third quarter, the rate is expected to increase by another 25 basis points to 7.25%, and in the fourth quarter, it may reach 7.75%, The Caspian Post reports, citing local media.

In 2025, the Central Bank of Azerbaijan held eight meetings to discuss the key interest rate. At six of these meetings, the rate was left unchanged, and two times, decisions were made to lower the rate (by 25 basis points each time). The last time the rate was lowered was on December 10, 2025, to 6.75%.

The Central Bank will also hold eight meetings to discuss the key interest rate in 2026. The first meeting will take place on February 4.