CBA reveals operational goals, monetary policy instruments for next year

In 2025, the Central Bank of Azerbaijan (CBA) will actively use the instruments at its disposal to achieve monetary policy objectives and will continue reforms to strengthen the alternative anchor of monetary policy, reads the CBA's statement on the main directions of monetary policy for 2025, Report informs.

According to the statement, the bilateral exchange rate of the manat against the US dollar, which is the main anchor of price stability, will be determined based on the average rate of interbank operations (taking into account auctions and over-the-counter transactions).

Currency sale auctions will continue at the CBA jointly with the State Oil Fund.

Required reserve ratios will be applied next year according to the monthly average mechanism. Banks will keep required reserves in manats and foreign currency depending on the currency of deposits included in the calculation base.