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CBA makes public main directions of monetary policy for 2011

30 December 2010 08:49 (UTC +04:00)

According to relevant statement of CBA, the main directions are based on final global tendencies and new development challenges of economy.

Main target of monetary policy will be organized by providence of macroeconomic stability. Providence of financial stability in banking sector will other target of Central Bank of Azerbaijan. For achievement of these targets, CBA will realize durable improvement of strategic frame of monetary policy and banking supervision. At the same time, increase of financial depth of banking sector and more strengthening of macroeconomic coordination will be supported importantly.

Statement says global economy has started to leave the lag, gradually, in 2010 an d economy reviving tendencies were observed. But, newly-started balancing in world economy after crisis, structures in leading economic centres and macroeconomic problems, including budget instability, made the global growth to be irregular and instable.

CBA says growth and increase processes in Azerbaijanâ€™s economy continued. Influences of global crisis eliminated. Financial stability of countryâ€™s economy more strengthened and currency stocks increased, importantly.

In accordance to monetary policy, the CBA directed its activity to save the inflation at an acceptable level, protect the stability of manatâ€™s rate, provide stability and stable development in banking-financial sector.