Elman Rustamov: Increase of monetary base is possible by end of 2021

In case of expansion of the monetary base, the Central Bank of Azerbaijan plans to activate its sterilization operations by the end of the year, banks.az reports citing CBA’s chairman Elman Rustamov. Rustamov noted that the Central Bank will somewhat limit the release of additional money into circulation:

"According to our forecasts, under the influence of some factors, the monetary base may grow by the end of this year. Traditionally, the additional money supply is formed in the 4th quarter of the year, in December. If extra money supply is formed, we will sterilize it. The necessary instructions have already been given. In this direction, the Central Bank has enough tools, using which we will somewhat limit the inflow of additional money into circulation."