Thursday, October 21 2010 18:30

Central Bank expects dropping inflation in Armenia


ArmInfo. In Q3 2010 the rate of REPO deals dropped by 3.04% to 7.13%, the rate of inter-bank REPO deals - by 2.27% to 6.61%, the yield of primary government bonds - by 1.81% to 10.27%.

The press service of the Central Bank of Armenia reports that the drop took place despite the CB's policy to keep up the rate of refinancing at 7.25% since May 2010. The CB's rate of lombard REPO deals is 10.25%, deposits - 4.25%.

In Sept 2010 the annual inflation was 8.6% (against July forecast of 6%): 3.3% of it was caused by growing vegetable and fruit prices, 1.5% - by rising bread costs. In Sept 2010 alone there was 0.2% deflation. As a result the annual inflation dropped by 1%. The CB says that this drop will continue.

May 11 2010 the CB raised the rate of refinancing from 7% to 7.25% and has kept it unchanged till today.
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