Azerbaijani Central Bank’s inflation target to remain unchanged

The Central Bank of Azerbaijan (CBA) will try to keep and maintain inflation at 4 percent, said CBA Chairman Elman Rustamov, Trend reports referring to a local TV channel.

Rustamov was speaking at a meeting with representatives of the National Confederation of Entrepreneurs (Employers’) Organizations of Azerbaijan with entrepreneurs and bank managers.

The CBA chairman noted that maintaining macroeconomic stability is one of the main tasks of the Central Bank.

“The government forecast of inflation and the target inflation rate of the Central Bank remain unchanged at about (4±2) percent,” said Rustamov. “This will lead to an increase in real income. The formation of inflation in the target corridor (4±2) in 2019 provided significant support to economic activity, strengthening confidence in the economic environment.”

Taking into account the latest trends, the Central Bank made adjustments to inflation forecast at the end of this year, noted the chairman.

“While maintaining macroeconomic trends by 2020, no significant changes in the dynamics of inflation are expected,” Rustamov added.