Central Bank of Azerbaijan
Banknotes: January to March 2024
A round-up of news and salient issues that have affected central bankers in the past three months
Central Bank of Azerbaijan ramps up cyber security
Division head points to AI’s potential as additional safeguard
Bank of Russia says Putin’s mobilisation will hit demand
Kazakhstan rates rocket, while Azerbaijan central bank warns about fiscal policy
People: IMF names new Asia-Pacific head
New deputy governors in Jamaica and Azerbaijan, and more
People: former New York Fed chief Corrigan dies
New deputy governor appointed in Honduras; Bundesbank names head of research; and more
Azerbaijan appoints new governor after dismissing predecessor
New governor faces rising inflation and stagnant growth after president fires 27-year incumbent
Azerbaijan continues gradual tightening
Central bank adds 25bp at March meeting, for a total of 150bp in hikes since September
Azerbaijan, Kyrgyzstan and Armenia raise rates
Inflation remains high across region, though falling in these three countries
Finding room for ESG
Central Banking speaks to four policy-makers for their thoughts on ESG principles, their respective institutions’ approaches, potential restrictions and an update on integration.
Azerbaijan authorities order 50bp hike
Price deregulation and global factors lead list of inflation drivers
Financial market infrastructure services: Bloomberg
The US company has helped central banks improve monetary operations and deepen forex markets by scaling up technical infrastructure and database monitoring capabilities
Central Bank of Azerbaijan cuts main rate as inflation slides
Inflation has run well below target in 2018, prompting the fourth rate cut of 2018
People: Fed appoints new payments security strategy chief
Boston Fed vice-president to lead payments security; director of prudential regulation of UK banks to stand down; Kuwaiti governor to chair Council of the Islamic International Board in 2018; and more
People: Fijian interim governor appointed permanently, Azerbaijan deputy leaves
Fiji’s Ariff Ali appointed on permanent basis; Azerbaijan deputy steps down; Bank of England retains PRC members; and more
Azerbaijan raids oil fund as central bank reserves dwindle
President allocates chunk of oil fund to top up central bank reserves, as pressure on the manat continues
Azerbaijan central bank raises rates for fourth time this year as currency plummets
Falling oil and gas prices have major impact on Azerbaijan’s economy; IMF calls for major banking sector reforms
Nonlinear models struggle to outperform VARs, Azerbaijani paper finds
Central bank’s first working paper finds various different nonlinear forecasting models perform poorly against autoregressive and VAR models, and even random walks
Azerbaijan to legislate central bank recapitalisation
Parliament prepares draft law to recapitalise Central Bank of Azerbaijan after foreign exchange losses leave balance sheet in the red
Azerbaijan devalues currency by a third
Central bank follows up last week’s decision to abandon its peg in favour of a currency basket by devaluing the manat by 34% against the US dollar
Central Asian currencies under threat as Azerbaijan abandons peg
The Central Bank of Azerbaijan’s decision to drop its dollar peg and move to target a basket could have knock-on effects throughout the region, where currencies are already under pressure
Central Bank of Azerbaijan hits back at FX critics
Forex interventions made in 2014 – buying foreign currency throughout the year and then reversing the trades in a single month – were essential for maintaining stability, central bank says