CBA Achieves 2024 Monetary Goals Via Open Market Operations
Date
12/28/2024 3:09:24 AM
(MENAFN- AzerNews)
Nazrin Abdul
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During this year, open market operations, standing instruments,
and reserve requirements were used to achieve monetary policy
objectives.
Azernews reports that this was stated in the
statement of the Central bank of the Republic of Azerbaijan on the
main directions of monetary policy for 2025.
According to the information, regular auctions for the placement
of 28-day, 84-day, 168-day, and 252-day notes continued as open
market operations throughout 2024.
"Decisions on the quantitative parameters for open market
operations were made based on liquidity monitoring and
forecasting.
Taking into account the reducing effects of changes in
government accounts on liquidity in the banking system due to the
surplus state budget, the Central Bank reduced the volume of
sterilization operations. At the end of November, the total balance
of sterilized funds through notes was ₼300 mln ($176mln), which is
4.4 times less than the portfolio size at the end of 2023 (1,320
million AZN). Mandatory reserve norms were not changed during the
reporting period," it was stated in the information.
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