CBA: Finance Ministry's note placements don't affect monetary policy

The Azerbaijani Ministry of Finance's note placements do not affect monetary policy, Taleh Kazimov, Governor of the Central Bank of Azerbaijan (CBA), said, according to Report.

According to Kazimov, it is difficult to determine the exact total value of the notes by the end of this year because their volume is subject to significant fluctuations.

"However, as of September 20, the CBA had spent 29 million manats on notes. The Ministry of Finance's placement-related expenditures do not affect our monetary policy. Most auctions do not result in placements because of excess liquidity. At auctions where placements do take place, the amounts are relatively small compared with overall liquidity.

We will ensure that matters involving the Ministry of Finance allow for coordination between fiscal and macroeconomic policies," he said.