Yield of short-term government securities has been falling on Armenia`s government bonds market for two quarters already

To recall, in Q2 this indicator fell 2.1 p.p.  At the same time, yield of long-term government bonds totaled 15.6% in September, increasing as compared to the June indicator by 0.4 p.p.

 

Central Bank notes that the overnight interest rate on NASDAQ OMX Armenia formed in August 2015 was in line with the regulator's policy, however from the mid of August no deals on this platform have been conducted, due to which the average yield of overnight rate is not calculated. To recall, in June the overnight interest rate totaled 11.02%, falling by 8.25 p.p. in comparison with March and approaching the level specified by the Central Bank's policy.

 

Meanwhile, repo-agreement intensified in Q3 following the small numbers of such deals since the beginning of the year. The average interest rate, which totaled 11.41% in September, remains within Central Bank's established range.