Tuesday, November 15 2016 17:31
Alina Hovhannisyan

Central Bank of Armenia reduces refinancing rate from 6.75% to 6.5%

ArmInfo. The Central Bank of Armenia (CBA) has reduced the refinancing rate from 6.75% to 6.5%. The CBA press office has told ArmInfo that the decision to  reduce the rate by 0.25 pct points was taken during the November 15 sitting of the CBA Board. Along with this, the CBA Board reduced Lombard REPO and deposit rates from 8.25% to 8% and from 5.25% to 5%, respectively.

To note, the previous revision of the refinancing rate took place on September 27, when the Central Bank of Armenia Board adopted a decision to reduce the refinancing rate to 6.75% from 7.25%. Along with that, the Lombard REPO and deposit rates were reduced to 8.25% and 5.25%, respectively, versus the previous 8.75% and 5.75%, respectively.  Earlier, on August 16, the CBA Board adopted a decision to reduce the refinancing rate by 0.25 percentage point - to 7.25% from 7.5%, the Lombard REPO and deposit rates were also reduced to 8.75% and 5.75%, respectively. Previously, 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%.


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