ArmInfo.The Central Bank of Armenia again reduced the refinancing rate this time by 0.5 percentage points - from 10.25% to 9.75%.
This is the third decrease this year, after two years of increase with reaching a historical maximum of 10.75% at the end of 2022 and maintaining this level until June 13 of this year, when the first decrease of 0.25 percentage points took place and then on August 1 there was a second decrease in the same amount. The decision to reduce the refinancing rate again was made on September 12 at a meeting of the Board of the Central Bank of the Republic of Armenia.
Accordingly, the The Lombard repo facility rate were also lowered from 11.75% to 11.25%, and tDeposit facility rate lowered from 8.75% to 8.25%.
According to statistical data, in August 2023, compared to August 2022, deflation was recorded at 0.2%, against inflation of 9.1% in August 2022, compared to August 2021. And the core inflation calculated by the Central Bank for August 2023 has not yet been published, but the July core y-o-y inflation decreased to 0.6% (from the y-o-y inflation rate of 10.1% in July 2022).
