The main goal of the monetary policy of the Central Bank of Azerbaijan (CBA) next year is to ensure dynamics in the direction of the inflation target range (4 -/+ 2%), Report informs referring to the CBA statement “On the main directions of monetary policy and policy to maintain financial stability for 2022.”
The statement notes that the achievement of this goal will depend primarily on non-monetary factors - world food and energy prices, the state of the supply-demand chain, and from next year the achievement of this goal will depend on the state tariff policy and the framework of macroeconomic policy.
“The ultimate goal of monetary policy to manage inflation within (4 -/+ 2%) remains low. According to the latest updated inflation forecasts, from the second half of 2022, within the conditions noted in the baseline forecast, inflation will progress towards the upper interval of this range,” reads the statement.