Tuesday, May 11 2010 16:53
Central Bank of Armenia raises refinancing rate from 7% to 7.25%
ArmInfo. The Central Bank of Armenia (CBA) has raised the refinancing rate by 0.25% to 7.25%. The CBA press service told ArmInfo that the given decision was taken at today's sitting of the CBA.
According to the source, 1.3% inflation was fixed in Armenia in April 2010 as compared with March 2010, and as compared with April 2009 inflation declined by 2% to 6.8%.
The CBA Board stated that under conditions of the monetary policy stiffening since the beginning of 2010, the inflation rates have been decelerating. At the same time, in case of positive changes in the world economy and demand recovery, as well as under conditions of increasing tariffs for the main communal services since April 2010, the inflation environment will be maintained within forecasted limits in case of long-lasting deceleration of inflation rates. According to the CBA Board's assessments, in case of the above-mentioned prospects of the macroeconomic environment, the monetary policy stiffening will be conducted in slower rates to form and maintain positive real interest rates for the forecasted period. To recall, the previous changing of the refinancing rate took place on 13 April 2010, when it was raised from 6.5% to 7%.
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