Tuesday, February 16 2016 18:06

Central Bank of Armenia reduces refinancing rate from 8.75% to 8.5%

Central Bank of Armenia reduces refinancing rate from 8.75% to 8.5%

ArmInfo. The Central Bank of Armenia (CBA) has reduced the refinancing rate from 8.75% to 8.5%. The CBA press office has told ArmInfo that the decision to reduce the rate by 0.25 pct points was taken during the Feb 16 sitting of the CBA Board. The source says that the lombard REPO and deposit rates have been fixed at 10% and 7%, respectively. 

To note, the previous revision of the refinancing rate took place on 22 Dec 2015, when the CBA reduced it from 9.75% to 8.75%. Earlier, the refinancing rate was reduced on 10 Nov 2015 - from 10.25 to 9.75%, with the lombard repo rate dropping from 11.75% to 11.25%, and the deposit rate - from 8.75% to 8.25%.