"The central bank will continue to intervene in the money market offsetting downward pressure on the Azerbaijan manat," APA-Economics reports citing a new report of the ADB entitled "Asian Development Outlook 2022".
"The central bank is expected to maintain the policy rate until the middle of 2022 or else raise it as inflationary pressures increase, though monetary policy could be relaxed if inflation slows to within the target band of 2%–6%.
The central bank will continue to intervene in the money market, sterilizing excess Azerbaijan manat liquidity with deposit auctions and note issues, controlling the amount of currency in circulation, and offsetting downward pressure on the Azerbaijan manat," noted in the report.
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