12:55 - 28.12.2023

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December 28, Fineko/abc.az. One of Central Bank’s goals for 2024 is to improve macroeconomic forecasting by using artificial intelligence (AI) in analytical research and economic models, ABC.AZ reports with reference to CBA’s statement on the main directions of monetary policy for 2024.

"The main goal is to make decisions on monetary policy taking into account the results of theoretically and econometrically adequate models. The model apparatus will be improved on the basis of the latest scientific research on macroeconomics and quantitative methods of local and foreign specialists, as well as the best practices of central banks. Alternative statistical indicators will be expanded, and the formation of a large-scale database based on macroeconomic data will continue," the statement says.