Central Bank of Armenia reduces refinancing rate to 7.25% from 7.5%

ArmInfo. The Central Bank of Armenia Board adopted a decision to reduce the refinancing rate by 0.25 percentage point - to 7.25% from 7.5% - on August 16.  According to the Central Bank's press-office, the Lombard REPO and deposit rates have also been reduced to 8.75% and 5.75% respectively, versus previous 9% and 6%, respectively. 

To note, earlier the Central Bank revised the refinancing rate on June 28 reducing it to 7.5% from 7.75%. At the same time the Lombard REPO and deposit rates were reduced from 9.25% and 6.25% to 9% and 6%, respectively. Prior to it, on 17 May 2016, the CBA reduced the 
refinancing rate from 8.25% to 7.75%, at the same time the Lombard REPO and deposit rates were also reduced to 9.25% and 6.25% respectively, versus previous 9.75% and 6.75%, respectively.  Before that revision of the refinancing rate took place on 29 March 2016, 
when the CBA reduced it from 8.5% to 8.25%. The lombard REPO and deposit rates were fixed at 9.75% and 6.75%, respectively. Earlier the refinancing rate was reduced on 16 Feb 2016 from 8.75% to 8.5%, while the lombard REPO and deposit rates were fixed at 10% and 7%, 
respectively. Earlier, the refinancing rate was reduced on 22 Dec 2015 - from 9.75 to 8.75%. On 10 Nov 2015 the refinancing rate was reduced  - 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%.