Bank Of Baku

CBA Deputy Chairman: “Inflation will not exceed one-figure level this year, in AZerbaijan”

CBA Deputy Chairman: “Inflation will not exceed one-figure level this year, in AZerbaijan”
# 12 April 2011 12:25 (UTC +04:00)
According to him, supply of dollar in currency market significantly increased in the condition of high surplus o balance of payment: “We conduct flexible exchange rate policy to keep the inflation at one-figure level in accordance to targets in monetary policy. Besides, the processes in the world have impacts on the rate of dollar. As a result, strengthening of manta against dollar is natural. We have enough influential opportunities to the processes taking the macroeconomic stability and other factors into account”.

Babayev noted that, sharp change in the world market would not be observed in Azerbaijan. He explained the high inflation in Azerbaijan with price rise of food: “recently the prices of food at world market started to stabilize. Inflation is forecasted not to exceed one-figure level, this year and we hope that, we’ll achieve it”.
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