Accra:The Central Bank of Azerbaijan is set to prioritize the use of data analytics and artificial intelligence to bolster its forecasting capabilities. This initiative was disclosed by Taleh Kazimov, Chairman of the Central Bank of Azerbaijan, during an interview with Global Finance magazine.

According to Azeri-Press news agency, the enhancement of AI capabilities is considered a key aspect of modernizing the monetary policy framework. The Central Bank aims to improve the transmission of interest rates to market rates and to broaden the range of financial instruments that reference AZIR.

Kazimov emphasized that these efforts are expected to deepen the capital and money markets and enhance the overall effectiveness of the monetary policy in Azerbaijan.