  RA Central Bank to continue toughening monetary policy May 11, 2010 - 17:39 AMT PanARMENIAN.Net - During the May 11 sitting, the Central Bank of Armenia decided to increase the refinancing rate by 0.25%, bringing it to 7.25%, the CBA press service reported. 1.3% inflation was recorded in April as compared with March, due to which the 12-month index of inflation reduced by 2 percentage points as compared with the previous month, totaling 6.8%. Given the current macroeconomic trends, the Central Bank Council believes that the toughening of monetary policy should continue at a slower pace to form and preserve positive real interest rates during the entire forecasted period.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Viva sees growing demand for cloud services  In recent years, medical institutions are starting to make use of Viva’s cloud servicesTurkey replacing term "Central Asia" with "Turkestan" in textbooks The Turkish Ministry of Education is replacing the term "Central Asia" with "Turkestan" in textbooks.Armenian, German presidents meet in Berlin Armenian and German Presidents Vahagn Khachaturyan and Frank-Walter Steinmeier met in Berlin.Armenia assumes presidency of Mediterranean Network of Regulatory Authorities The Commission on Television and Radio of Armenia said it expects productive cooperation in various formats. |
