Wednesday, July 14 2010 10:36
Armenia's Central Bank preserves rate of refinancing at 7.25%
ArmInfo. The Central Bank of Armenia has preserved the rate of refinancing at 7.25%.
The press service of the CB reports that in June 2010, as compared with May 2010, there was 0.8% deflation, as compared with June 2009 - 0.5% deflation
In the next few months inflation will slow down due to the dropping world raw material and food prices and the current behavior of AMD.
The CB reports that, due to its tough monetary-credit policy and the dropping world prices, the annual inflation today is lower than was expected but is still higher than the target limit.
Even though these factors will continue influencing inflation in the near future, the reviving gross demand and the growing agricultural prices will cause additional inflation pressures. Since the CB is unable yet to predict the behavior of EUR and the world prices, it prefers not changing its monetary-credit requirements.
In May 2010 the CB raised the rate of refinancing from 7% to 7.25%.
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