Control Chamber: No fundamental reasons for Brexit impact on financial stability in Azerbaijan

Baku. 25 June. REPORT.AZ/ There are no fundamental reasons for the immediate and direct impact of Brexit on the financial stability in Azerbaijan.

Report informs, the statement of the Financial Markets Control Chamber says.

The statement states, the Financial Markets Control Chamber, has being explored the possible channels of influence of the results of Britain referendum on the economy inAzerbaijan, as well takes measures to preserve financial stability: "The results of the analysis carried out taking into account the expectations of growing uncertainty in the commodity, labor and financial markets have shown that the structure and dynamics of the foreign trade in Azerbaijan, settlement of accounts with major trading partners in the US-dollar, as well as the currency composition of assets and liabilities of the country's financial institutions to minimize the impact of Brexit on the economy, including the financial system of our country."

According to the Chamber, however, in the course of monitoring on June 24, it had revealed that the foreign exchange market reacted sensitively to the news of Brexit: "This is not related with the fundamental economic factors, but rather, the expansion of the information. The chamber continues monitoring in this area and is working to neutralize indirect, including the psychological impact of Brexit on the economy."