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Fitch Ratings: CBA to raise the interest rate to 7.5%.

13 November 2021 14:31 (UTC +04:00)

Fitch Ratings forecasts the Central Bank of Azerbaijan (CBA) to raise the interest rate to 7.5%, according to the information of Fitch Ratings Agency, APA-Economics reports citing the Agency.

"Inflation in Azerbaijan rose to 8.5% in September, from 4.3% in April, with pressure from food, transport, and administered prices, and Fitch forecasts a further 50bp interest rate rise to 7.5% and for year-end inflation to remain elevated at 7.6%.

We project inflation moderates to 4.3% by end-2022, just above the 4% central target band, as temporary pressures including from supply chain disruptions fade," the information reads.