Tuesday, December 27 2016 17:54
Karine Melikyan

Central Bank of Armenia reduces refining rate from 6.5% to 6.25%

Central Bank of Armenia reduces refining rate from 6.5% to 6.25%

ArmInfo. The Central Bank of  Armenia (CBA) has reduced the refinancing rate from 6.5% to 6.25%.  The CBA press office has told ArmInfo that the decision to reduce the  rate by 0.25 pct points was taken during the December 27 sitting of  the CBA Board. 

Along with this, the CBA Board reduced Lombard REPO and deposit rates  from 8% to 7.75% and from 5% to 4.75%, respectively.

To note, the previous revision of the refinancing rate took place on  November 15, when the Central Bank reduced the refinancing rate from  6.75% to 6.5% along with that, the Lombard REPO and deposit rates  were reduced from 8.25% to 8% and from 5.25% to 5%, respectively.  Prior to that on September 27, the refinancing rate was reduced 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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