ArmInfo.At its March 15, 2022 meeting, the CBA Board decided to raise the refinancing rate by 1.25 percentage points, setting it at 9.25%.
In February 2022, both 12-month and natural inflation fell in line with the CBA projection, totaling 6.5% and 6.4%, respectively.
The Lombard repo rates have been raised from 9.5% to 10.75%, with deposit rates raised from 6.5% to 7.5%.
This is the eighth rise in the refinancing rate since last year - from 5.25% up to 9.25%. This February, the officially registered inflation in Armenia's consumer market was 0.1%, with the year- on-year inflation (Feb. 2022 against Feb. 2021) reaching 6.8% against 0.6% last February and 5.3% year- on-year inflation.
As regards the core inflation, no data on February are available. According to the data on January, 0.4% inflation was recorded, with 6.6% year-on-year inflation, against 1% last January and 4.7% year-on-year inflation last January.
According to the CBA's forecast revised last December, inflation was to fall from 7.7% in 2021 to 5.5%. The CBA plans to revise its forecast late this month, which will reflect the new challenges caused by the Russian-Ukrainian war and unprecedented sanctions against Russia by the USA and EU, with Russia's share in Armenia's macroeconomic indicators being dominant.
