ArmInfo.Armenia's Central Bank (CB) will use monetary instruments to reach the inflation target, CBA Chairman Martin Galstyan stated at a meeting of the Standing Committee on Financial-Credit and Budgetary Affairs, Parliament of Armenia, on November 10.
In Armenia inflation is 9.5%, which high as compared with the 4% target.
Mr Galstyan noted that in Georgia inflation is 10.6%, in the Euro Zone countries, 10.7%, in Kazakhstan, 18.8%.
The CB will reach the planned target, 4% inflation, in the 3rd quarter of the coming year, he said.
To accomplish the task the CBA will use all the available instruments, including raising the bank rate. Mr Galstyan does not rule out further AMD appreciation. Armenia would see 14% inflation but for this AMD appreciation process. This February saw lower inflation, 6.4%, but the Russian-Ukrainian crisis affected the global economy. Among the positive aspects is the FAO index, which indicates a consistent reduction of global food prices as a result of demand and supply stabilization.
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