BAKU: The Central Bank of Azerbaijan (CBA) finds monetary policy tightening impractical, Governor of the Central Bank of Azerbaijan Taleh Kazimov said at a press conference, Trend reports.
‘We are aware of Fitch Ratings’ recent recommendations, which suggest that Azerbaijan’s monetary policy structure is weaker compared to countries rated BBB. However, we believe that the current financial market conditions and inflation levels do not necessitate a tightening of monetary policy,’ he said.
The governor added that, according to the CBA’s updated forecast, inflation for 2025 is projected to be 5.4-5.5 percent, up from the previous forecast of 4.7 percent, aligning with international financial institutions’ expectations.
‘For 2024, we expect inflation to be 5.4 percent, revised from the 3.5 percent forecast made in April,’ Kazimov said.
Source: Trend News Agency