15:58 - 20.02.2026

---

February 20, Fineko/abc.az. The Central Bank of Azerbaijan is expected to continue its cautious monetary policy in 2026 and maintain the stability of the manat exchange rate.

ABC.AZ informs, referring to Fitch Solutions’ forecast on Azerbaijan.

According to the company, by the end of 2026, inflation will decrease to 5%. This figure is below the 5.6% level recorded in 2025 and corresponds to Central Bank's target range of 2-6%.

At the same time, the report notes that geopolitical tensions and disruptions in supply chains persist inflationary risks. In particular, sanctions against Russia and their impact on food exports may indirectly affect Azerbaijan. Given that 20-30% of grain, dairy products, and meat are imported from Russia, the country remains sensitive to rising transportation and operating costs.

Under these conditions, Fitch Solutions predicts that the Central Bank will maintain a cautious approach and gradually reduce its key rate from the current 6.50% to 6.00% by the end of 2026.

It is also emphasized that the monetary policy will remain tightly controlled: the exchange rate of the manat is expected to remain at 1.70 manats per US dollar, reflecting government's long-term commitment to monetary stability.