Azerbaijan's Central Bank to switch to new fiscal and monetary rules

Mon 12 February 2018 08:20 GMT | 12:20 Local Time

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The Central Bank of Azerbaijan will switch to new fiscal and monetary rules.

Chairman of Management Board of Central Bank of Azerbaijan Elman Rustamov said at the press conference that in this situation the Central Bank will try to keep status-quo.

"We don’t make significance interference in the market. We neither buy currency nor sell them in the auctions. The main issue is return of swaps we gave to banks. Switching to new fiscal and monetary rules is a progressive step. This will increase coordination of both of the fiscal and monetary policies to a high level. And we’ll provide elimination impacts of exchange rate on economic risks," he said.

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