The Central Bank of Armenia has reduced the refinancing rate by 0.25pp from 10.5% to 10.25% at its August 11 meeting, the press- office of the Central Bank told ArmInfo. According to the source, the CB's rate on Lombard REPOs was reduced from 14.5% to 11.75%, while the deposit rate was reduced from 9% to 8.75%.
To recall, at the June 24 session, the Board of the Central Bank of Armenia took a decision to retain the refinancing rate at 10.5%. On Feb 10, 2015, the CB raised the refinancing rate from 9.5% to 10.5%, at the same time reducing the lombard repo rate from 17% to 14.5% and raising the deposit rate from 5.25% to 9%. At the March 24 session, the Board of the Central Bank of Armenia (CBA) took a decision to retain the refinancing rate at 10.5% and to reduce the lombard repo rate from 13.5% to 12%. Previously, on March 12, the CB reduced the lombard repo rate by one pct point from 14.5% to 13.5%. Earlier, the refinancing rate was raised on 22 Jan 2015 - from 8.5% to 9.5%. On 23 Dec 2014, it was increased from 6.75% to 8.5%. On 3 Dec 2014, the CBA raised the lombard repo rate from 10.25% to 21%, on Dec 23 it reduced the rate to 20%, and on Jan 22, 2015, the rate was decreased to 17%.