NBA READY TO SET UP EFFICIENT FINANCIAL MARKET
The National Bank of Azerbaijan (NBA) announced about its readiness to extend
market mechanisms to manage inflation processes. NBA wants to create a normal financial market and mechanisms to manage inflation, the NBA Director General Movsumov told Trend.
"Mechanisms will include existing tools (short-term notes, repo-operations and etc), supplemented by new tools. The issue was discussed in the framework of the visit of our consultant from the Central Bank of Switzerland Marsel Zimmermann in July. Zimmermann consults us on the issues of the monetary management, first of all, regulation of inflation processesвЂќ, Movsumov said.
NBA takes the strengthening of the AZM rate easy. вЂњRevolvation of AZM (by 5% since the year-start) is not phenomenal. In Russia and Kazakhstan, being under similar conditions the national currency strengthened by 10%", - Movsumov noted.