Over the next 2 years, monetary policy in Azerbaijan is expected to remain tight to curb inflation, Asian Development Bank (ADB) reported.
According to the bank, increased oil earnings should tame volatility in the foreign exchange market: ‘The central bank may intervene to prevent any significant depreciation of the manat and thereby limit inflationary pressures. Banking is expected to remain highly dollarized, and with improved exchange rate stability the private sector may be more willing to borrow in foreign currency, boosting lending’.
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