Tuesday, December 7 2010 18:36

Central Bank of Armenia keeps the rate of refinancing unchanged at 7.25%


ArmInfo. The Central Bank of Armenia has left the rate of refinancing unchanged at 7.25%.

The press service of the CB reports that in Nov 2010 as compared with Oct 2010 inflation was 1.6%, as compared with Nov 2009 - 9.6%.

The main cause of high inflation is growing agricultural prices in Armenia and climbing food prices worldwide. On the food market inflation was 7.5% mostly due to a rise in fruit, vegetable, meat, milk and bread prices.

Even though the overall demand is growing slowly inflation will hardly exceed the projected level. Considering the influence of the monetary-credit policies on the overall demand, the CB may toughen them if the supply factors and their indirect influence grow.

The last time the CB changed the rate of refinancing was May 11 2010 - from 7% to 7.25%.

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