Elman Rustamov: Stability in foreign exchange market amid favorable external environment balances influence of spending factors


April 30, Fineko/abc.az. The aggregate demand, mainly supported by public investments, is expected to put pressure upon inflation for the short-term prospect.

ABC.AZ reports that Central Bank’s chairman Elman Rustamov made such a statement at a press conference.

He noted that despite the changes in inflation expectations, the updated forecasts show that inflation will remain in the target range (4±2%) at the end of the year: "Since the last meeting there have been no changes in the risk balance that could lead inflation beyond the target. Inflation is mainly influenced by one-time costs and seasonal factors of non-monetary nature.

Against the background of favorable external environment, stability in the foreign exchange market and the stability of the national currency exchange rate have become stable and balance the influence of spending factors."