Refinancing rate
The Central Bank of Azerbaijan’s refinancing rate and interest rate corridor: current level, history of decisions and official press releases.
- 6.5%Refinancing rate
- 5%Corridor floor
- 7.5%Corridor ceiling
- 5.5%Annual inflation · September 2026 · target 4±2%
In effect since 24.09.2026.
History: 2025-2026
Refinancing rateInterest rate corridor
| Decision | Refinancing rate | Corridor |
|---|---|---|
| 23.09.2026Floor cut by 0.5 pp | 6.5% | 5% - 7.5% |
| 31.07.2026Parameters kept unchanged | 6.5% | 5.5% - 7.5% |
| 24.06.2026Parameters kept unchanged | 6.5% | 5.5% - 7.5% |
| 06.05.2026Parameters kept unchanged | 6.5% | 5.5% - 7.5% |
| 02.04.2026Parameters kept unchanged | 6.5% | 5.5% - 7.5% |
| 04.02.2026Refinancing rate cut by 0.25 pp (corridor by the same amount) | 6.5% | 5.5% - 7.5% |
| 10.12.2025Refinancing rate cut by 0.25 pp (corridor by the same amount) | 6.75% | 5.75% - 7.75% |
| 22.10.2025Parameters kept unchanged | 7% | 6% - 8% |
| 10.09.2025Parameters kept unchanged | 7% | 6% - 8% |
| 23.07.2025Refinancing rate cut by 0.25 pp (corridor by the same amount) | 7% | 6% - 8% |
| 11.06.2025Parameters kept unchanged | 7.25% | 6.25% - 8.25% |
| 23.04.2025Parameters kept unchanged | 7.25% | 6.25% - 8.25% |
| 12.03.2025Parameters kept unchanged | 7.25% | 6.25% - 8.25% |
| 22.01.2025Parameters kept unchanged | 7.25% | 6.25% - 8.25% |
Click a date to open the Central Bank’s official press release. For decisions that kept the parameters unchanged, the figure is from the previous decision.
Source: press releases of the Central Bank of the Republic of Azerbaijan; latest decision 23.09.2026. Figures are copied from the official text. cbar.az
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Frequently asked questions
What is the refinancing rate?
It is the main interest rate of the Central Bank’s monetary policy. It affects interbank rates and, indirectly, loan and deposit rates. When deciding, the Central Bank compares inflation with its target range (4±2%).
What is the interest rate corridor?
It is the lower and upper limit of the rates the Central Bank applies in its operations with banks. Interbank money market rates usually form between these limits.
How often are decisions made?
The Central Bank’s Board decides several times a year: 8 decisions in 2025 and 6 so far in 2026. Each decision is announced in a press release - click a date in the table to read the official text.