BAKU, Azerbaijan, November 4. Exchange rate stability will remain the main anchor for price stability in Azerbaijan in 2027, governor of the Central Bank of Azerbaijan (CBA) Taleh Kazimov said.
He made the remarks during a meeting of the Parliamentary Committee on Economic Policy, Industry and Entrepreneurship dedicated to discussing the draft state budget for 2027.
According to him, the CBA's primary monetary policy objective in 2027 will continue to be keeping inflation within the target range. Price stability will remain a foundation for balanced and sustainable economic growth.
Kazimov noted that monetary policy would continue to be implemented under the existing framework next year, with exchange rate stability serving as the key anchor for price stability.
"A surplus in the current account of the balance of payments will continue to support equilibrium in the foreign exchange market next year. In 2027, short-term money market interest rates will continue to serve as an intermediate operational target of monetary policy. Existing instruments will be used appropriately and flexibly to keep short-term money market rates within the interest rate corridor," he said.
Kazimov emphasized that efforts to strengthen the interest rate channel in monetary policy transmission would continue.
"Next year, we will also maintain a focus on implementing monetary policy in coordination with macroprudential policy and the Central Bank's other policy areas. Deeper financial markets and stronger financial stability will have a positive impact on the transmission of monetary policy," he added.
