Wednesday, February 17 2010 11:05

Central Bank of Armenia raises rate of refinancing from 5.5% to 6.0%


ArmInfo.The Central Bank of Armenia has raised the rate of refinancing from 5.5% to 6.0%, reports the CB's press service.

In Jan 2010 as compared with Dec 2009 inflation was 1.7%, as compared with Jan 2009 - 7% (1.5% more than planned).

The key factors fostering inflation are growing international prices of raw materials and foodstuffs and restoring demand stimulated by the CB's expansionary policy.

Despite the forecast that the annual inflation will exceed the planned level, the CB expects that the peak will be followed by certain decline in Q1 2010.

The previous change was Jan 20 2010 when the rate of refinancing was raised from 5% to 5.5%.
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