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CB Chairman Elman Rustamov: â€œWeâ€™ve to create macroeconomic condition to ensure the fall in interests on the basis of market principlesâ€

CB Chairman Elman Rustamov: â€œWeâ€™ve to create macroeconomic condition to ensure the fall in interests on the basis of market principlesâ€

12 December 2011 10:45 (UTC +04:00)

Baku. Shahriyar Alizadeh â€“ APA. The funds allocated by government for solution of apartment problems of youths in Azerbaijan, increased compared by previous years, said the chairman of Central Bank of Azerbaijan Elman Rustamov.

He noted that, commercial banks also lent in accordance with own conditions: â€œWe also seek additional funds for thisâ€.

He also noted that, the works on falling of interest rates on loans are being conducted: â€œWeâ€™ll state about strengthening of macroeconomic stability and keeping of inflation at lower level, recently. Banks regulate the relations with clients. No one can influence them. CB can not have impact on other banks related with fall of interest rates. Weâ€™ve to create macroeconomic condition to ensure the fall in interests on the basis of market principlesâ€.

According to him, the works on improvement of mortgage lending are underway.

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