Tuesday, December 11 2012 19:29

Armenia's Central Bank keeps refinancing rate unchanged at 8%


ArmInfo. Armenia's Central Bank has decided to keep the rate of refinancing unchanged at 8%.

According to the press service of the CB, in Nov 2012 there was 1.4% inflation. As a result, annual inflation grew to 3.6% - close to the target 4% level.

The situation in Nov 2012 was very close to what the CB planned for the period.

The developed countries are not certain what to do with their debts. As a result, the demand is low, while the food market is tensed.

In Oct-Nov 2012 private spending in Armenia continued to be high, with the inflow of non-commercial personal remittances growing and the gross demand kept low. This resulted in a slight rise in prices.

The CB expects annual inflation to stay within 4%.

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