CBA chief says no reason to switch to alternative monetary policy plan

Current macroeconomic conditions do not give the Central Bank of Azerbaijan, CBA, any reason to switch to an alternative plan, or "Plan B," CBA Chairman Taleh Kazimov said at a press conference today, Report informs.

According to him, the Central Bank has various alternative action plans within its monetary policy framework and can make appropriate decisions depending on the situation.

"But we are not discussing how likely the so-called Plan B is, or whether such a possibility exists at all, because there is no reason to switch to Plan B.

"I have said in my previous remarks as well that our assessments show that, in the medium and long term, macroeconomic conditions provide grounds to continue our current Plan A. In other words, we are holding firmly to Plan A and continuing our work," Kazimov said.

He noted that one of the Central Bank's main strengths is its ability to choose the right plan in a timely manner depending on each situation.

"We have chosen that plan and, as I said, we believe our current policy provides an adequate response to all potential challenges in the medium and long term," Kazimov added.