Tuesday, September 4 2012 19:40

Armenia's Central Bank refrains from lowering the rate of refinancing


ArmInfo. The Central Bank of Armenia decided on Tuesday to keep the rate of refinancing unchanged at 8%.

The press service of the CB reports that in Aug 2012 there was 0.4% deflation. As a result annual inflation made up 2.5%, which is within the target level of 4% +/-1.5%.

The CB says that the tendencies observed inside and outside Armenia's financial sector in Q3 2012 were in line with the CB's monetary-credit policy and inflation expectations for the period.

Due to growing private consumption the prices will grow but annual inflation will not exceed the target level.

In order to minimize rate swing on the inter-bank market, the CB continues reducing the deposit and repo rate margin, this time, from 5% to 4%.

The last time the rate of refinancing was changed Apr 12 2011 - from 8.5% to 8%.
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