ArmInfo. The Central Bank of Armenia Board adopted a decision to reduce the refinancing rate to 6.75% from 7.25%. The CBA press office has told ArmInfo that the decision to reduce the rate by 0.5 pct points was taken during the September 27 sitting of the CBA Board.
According to the Central Bank's press-office, the Lombard REPO and deposit rates have also been reduced to 8.25% and 5.25% respectively, versus previous 8.75% and 5.75%, respectively.
To note, earlier 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, the Lombard REPO and deposit rates were also reduced to 8.75% and 5.75% respectively. 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%.