Azerbaijan central bank to retain exchange-rate stability as key policy anchor in 2027

Azerbaijan’s central bank will maintain its existing monetary policy framework in 2027, with exchange-rate stability remaining the main anchor for price stability, Governor Taleh Kazimov said.

An expected current account surplus of around $5.4 billion to $5.5 billion next year will support balance in the foreign exchange market, he said.

Keeping inflation within the target range will remain the central bank’s main monetary policy objective. Its October baseline forecast puts annual inflation at 5.9% in 2027.

Short-term money market rates will continue to serve as a supplementary operational target, while the central bank will keep working to strengthen the interest-rate channel of monetary policy transmission.