ArmInfo.The Central Bank of Armenia decided to reduce the refinancing rate by 0.25 pp, setting it at 8.5% - from 8.75.
The decision to reduce the refinancing rate again was made on May 12 at a meeting of the Board of the Central Bank of the Republic of Armenia.
According to the source, the Lombard repo facility rate was set at 10.0 % from 10.25% and the Deposit facility rate at 7.0 % from 7.25%.
According to statistical data, in Jan2024 compared to Jan 2023, deflation was recorded at 0.9%, against inflation of 8.1% in Jan 2023 compared to Jan 2021. The basic indicator calculated by the Central Bank for Jan 2024 is also deflationary - 0.4%, against inflation 9.1% for Jan 2022. According to statistical data, consumer prices also decreased - by 1.7% per annum in Feb 2024, (against inflation of 8.1% in Feb 2023), and the basic indicator calculated by the Central Bank for February has not yet been published (against inflation of 8.4% in Feb 2023).
A detailed justification for the decision of the Central Bank Board to reduce the refinancing rate today at 14:00 at a press conference will be presented by Governor of the Central Bank, Martin Galstyan.
