OREANDA-NEWS. December 15, 2009. The Central Bank of Azerbaijan (CBA) has started work with domestic banks on loan rate cutting.

Rashad Orujev, the director of the CBA Credit Institutions Supervision Department, says that the country’s banks are expected to cut their loan rates soon.

“We are holding active debates on the occasion. Some leading banks have already launched the process of interest rate cutting, and most of banks re-consider credit policy as a whole. In addition, we expect cheapening of cost of raised financial resources and in fact this will have impact bank loan rates,” Orujev said.