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Akbar Novruz

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Chairman of the Central Bank of Azerbaijan (CBA) Taleh Kazimov has emphasized the importance of maintaining price stability, managing inflation expectations and strengthening institutional credibility as global economic uncertainty and geopolitical risks continue to challenge monetary policymakers.

Kazimov made the remarks during the Istanbul Economic Forum in Türkiye, where he participated in a panel discussion titled "Monetary Policy Amidst Uncertainty."

According to the Central Bank, the Chairman addressed the implications of growing geopolitical tensions and global economic volatility for Azerbaijan's economy, outlining the importance of an effective monetary policy response to external challenges.

He highlighted the need for central banks to remain flexible in their decision-making while maintaining a consistent focus on price and macroeconomic stability.

Particular attention was given to the management of inflation expectations, which play an important role in shaping consumer behaviour, business decisions and broader economic confidence.

Kazimov also stressed that transparent and effective communication is essential for central banks operating in an increasingly unpredictable economic environment.

The Chairman noted that maintaining institutional credibility and strengthening economic resilience were critical to addressing the challenges arising from global instability.

His remarks come at a time when central banks worldwide are navigating uncertainty associated with geopolitical developments, changing international trade conditions and fluctuations in global financial and commodity markets.

For Azerbaijan, such developments are particularly relevant given the economy's exposure to international energy markets and the potential transmission of external price pressures through imported goods and services.

Kazimov further emphasized the importance of strengthening international dialogue and cooperation among monetary authorities, describing the Istanbul Economic Forum as a valuable platform for exchanging experiences and discussing common policy challenges.

The two-day event, organised by the Central Bank of the Republic of Türkiye, brought together central bank governors and representatives of international financial institutions from various countries.

Discussions covered a broad range of economic and financial issues, including the global economic outlook, monetary policy, financial stability, international trade challenges and the growing influence of artificial intelligence on economic activity.

The forum provided participants with an opportunity to examine how monetary authorities can respond to rapidly changing global conditions while safeguarding financial stability and maintaining public confidence in economic institutions.