Tuesday, May 8 2012 19:32
Central Bank of Armenia retains refinancing rate at 8% and will consider issue of dampening of money-and-credit conditions
ArmInfo. At today's sitting the Board of the Central Bank of Armenia made a decision to retain the refinancing rate at 8%, the CBA press service told ArmInfo.
According to the source, in April 2012 0.6% inflation was fixed in the country, and the annual inflation level dropped by 0.3 pct points to 1.9%.
The CBA Board does not rule out the impact of external factors on the domestic inflationary environment and at the same time reports the volatility of international prices of oil and grain. "The domestic economic situation in Armenia, particularly, the growth of private expenses and the fiscal policy may also become factors to expand the inflationary environment", the CBA's press release says.
The CBA Board has come to the conclusion that the situation in the world markets, including the domestic one, develops in compliance with the base scenario of the CBA's money-and-credit policy for Q1 2012.
The CBA Board states that the annual inflation will remain at no more than 4% throughout the year. In this context, the Board will consider the issue of dampening of the money-and credit conditions.
To recall, the CBA Board reduced the refinancing rate from 8.5% to 8% on 12 Apr 2011.
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