The Central Bank’s related activity is regulated by the Law on the Central Bank of the Republic of Azerbaijan. The monetary policy is a system of actions taken to secure price stability, the main goal of the Central Bank.
The Central Bank uses monetary policy tools to attain its monetary target and strives to reach its ultimate goal influencing money supply, the exchange and interest rates by means of the monetary policy tools at its disposal. The Bank always analyzes and forecasts the macroeconomic situation to take adequate monetary policy decisions. The Central Bank’s collegial bodies – the Monetary Policy Committee and the Management Board regularly discuss the macroeconomic situation and make decisions on this basis, which are disclosed to broad public via communication facilities, including press-releases.
The Central Bank develops and makes public a statement on main directions of the monetary policy for the year to come (also for medium term). The document includes a macroeconomic policy frame in the current year, results of the implemented monetary policy, goals and objectives of the monetary policy for the upcoming year, the ways for their implementation and medium term policy directions.
The Central Bank’s Monetary Policy Review quarterly goes public to deliver information on the macroeconomic stance and the implemented monetary policy.