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Saturday, August 19, 2017

CBA report reviews 2014 performance, charts economic course

The Central Bank of Azerbaijan (CBA) released its plan Tuesday for fiscal and monetary policy stability enhancements for 2015.

In this announcement, the bank also reported its results for the past year. It said its performance was a contributing factor to Azerbaijan's stability, including the nation's economic growth and diversification policies. The bank's response to the foreign-exchange market ensured stabilization of the Azerbaijani Manat as well.

Plans for 2015 include the drafting of policies that will allow the country to adapt to risks of inflation or deflation in its monetary policy. The bank said that in the coming year, the stabilization of the national currency on the foreign exchange market is a top priority. With regard to what economic situations may look like, the CBA hopes to adapt in a way that encourages growth overall.

The bank also said it will have a larger supervisory role over the banking sector and will continue efforts to lower interest rates on loans.

Organizations in this story

Central Bank of Azerbijan 32 Rashid Behbudov str. Baku, Azerbaijan

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