Wednesday, June 8 2011 10:39

Rate of refinancing preserved at 8.5%


ArmInfo. June 7 2011 the Central Bank of Armenia decided to preserve its rate of refinancing at 8.5%.

The press service of the CB reports that in May 2011 inflation grew by 0.1% to 9%.

Recently the inflation pressure coming from external sources has abated due to decline in raw material prices and stable food prices.

The influence of the domestic economy on inflation remains neutral due to slow growth in personal expenses and tough taxation and budgetary policies. This year agricultural prices will be lower due to higher agricultural production.

In the near future inflation will be 4% (+/-1.5%).

May 11 2011 the rate of refinancing was raised from 7% to 7.25%.
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