Azerbaijani Central Bank’s eyes one-digit inflation level

  27 September 2016    Read: 715
Azerbaijani Central Bank’s eyes one-digit inflation level
The main goal of the Central Bank of Azerbaijan (CBA) for the present is to bring the inflation to a one-digit level, CBA head Elman Rustamov told reporters.
“Our task is to bring the inflation to the level acceptable for the business, population and the state. Like devaluation, high inflation is harmful for economy,” said Rustamov.

“Currently, the inflation rate is 11 percent. But it is difficult to predict its level by late 2016. We are waiting for the results of nine months.”

The CBA head noted that the inflation forecast will depend on the sustainability of the exchange rate.

“We have a positive view regarding this issue. Despite the tense situation, we control it. There is some tension on the currency market, but we have eliminated the currency shortage and other difficulties. But our goal is to achieve a fundamental stability,” said Rustamov.

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