Monday, October 24 2011 11:41
Armenia's Central Bank forecasts declining inflation in coming months
ArmInfo. The Central Bank of Armenia forecasts declining inflation in the coming months despite above-target inflation in Sept.
The press service of the Central Bank of Armenia reports that the 1.25% rise in the rate of refinancing in Feb-Apr continues curbing inflation.
In case of moderate risks the interest rates formed and forecast after the CB's Sept decision to reduce the rate of refinancing by 0.5% will form a gross demand that will bring inflation back to the target 4% (+ / -1.5%).
The CB says that the current inflation tendencies in Armenia are in line with its projections for 2011.
In its report for 2011-2012 the IMF forecasts 4% economic growth in the world due to uncertainty on the debt problem and consequent decline in economic activity in the developed countries. The IMF expects 2.6% inflation in the developed countries and 7.5% inflation in the developing ones. In Russia economic growth will be 4.3%, inflation - 7.3%, in the CIS and Georgia inflation will amount to 10%.
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