BAKU, Azerbaijan, December 28. The open market operations, standing facilities instruments, and mandatory reserves were used to achieve the goals of monetary policy in Azerbaijan during 2024, reads the statement of the CBA on the main directions of the monetary policy for 2025, Trend reports.
According to the information, regular auctions for placement of 28-day, 84-day, 168-day, and 252-day notes for sterilization purposes within the framework of open market operations continued during 2024.
“Decisions on the quantitative parameters of open market operations were taken on the basis of liquidity monitoring and forecasting.
Considering the diminishing effect of changes in the public accounts on the liquidity of the banking system in the context of a surplus state budget, the CBA reduced the volume of sterilization operations. At end-November, the total balance of funds sterilized with notes amounted to 300 million manat, which is 4.4 times less than the portfolio volume at end-2023 (1.3 billion manat). The norms of mandatory reserves did not change in the reporting period,” the statement reads.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel