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Azerbaijan to continue pursuing stringent monetary policy next year

06 December 2016 11:47 (UTC +04:00)

According to him, in connection with switching to floating rate, the monetary policy has changed to targeting of money supply and monetary base: “Therefore, stringent monetary program will be developed and fulfilled in 2017. The main goal is to prevent additional currency issue, creation of additional pressure on manat rate and increase of inflation. Volume of sterilization operations on money supply will be increased in order to ensure liquidity of banking system and goals of financial stability. Interest rates will be reviewed if needed. Serious fiscal and monetary discipline, increase of quickness of exchange rate policy in the condition of their coordination, neutralization of existing negative expectations of ensuring of macroeconomic stability will be main factors in 2017”.