BAKU, Azerbaijan, December 28. In 2024, the monetary policy of the Central Bank of Azerbaijan (CBA) will be aimed at ensuring price stability in the country, meaning keeping inflation at a low and stable level, Trend reports, referring to the CBA's statement on the main directions of monetary policy for 2024.
According to the statement, the main goal of monetary policy will be to keep inflation within the target range established in the "Socio-economic Development Strategy of the Republic of Azerbaijan for 2022-2026."
"The Central Bank will establish conditions for the country's economy to grow sustainably by ensuring price stability. Monetary policy actions in 2024 will be based on changes in foreign and internal inflationary forces, as well as new macroeconomic forecasts. The strengthening of mitigating variables and the stabilization of inflation expectations provide grounds to estimate annual inflation in the target range by 2024. Reforms will continue to improve the strategic and operational frameworks of monetary policy, as well as the communication of monetary policy. These changes will help to increase the influence of monetary policy decisions on inflation," the CBA notes.
CBA plans to review its monetary policy eight times in 2024. The Central Bank's decisions on the interest rate corridor parameters will be made public on January 31, March 28, May 1, June 21, July 31, September 18, October 30, and December 18.
Stay up to date with more news on Trend News Agency's WhatsApp channel