Refinancing interest rate to decrease 0,25 points
In accordance with Apr. 7 sitting results, CBA decreased refinancing interest rate by 0,25 points, fixing it at 7.50%.
In March 2009 1.4% inflation was registered compared to February results.
According to CBA council, regardless of dram devaluation in March, inflation went below the level forecasted. At the same time, reduction of external demand, lowering of financial inflows and current unfavorable trade conditions had a negative influence on economy growth rates.
CBA council is unanimous that current and forecasted macroeconomic conditions, maintaining of low inflation rate and assistance to economy activation need expanded monetary policy introduction. To this purpose, combination of interest rate reduction and expansion of volumes should be implemented.
In March 2009 1.4% inflation was registered compared to February results.
According to CBA council, regardless of dram devaluation in March, inflation went below the level forecasted. At the same time, reduction of external demand, lowering of financial inflows and current unfavorable trade conditions had a negative influence on economy growth rates.
CBA council is unanimous that current and forecasted macroeconomic conditions, maintaining of low inflation rate and assistance to economy activation need expanded monetary policy introduction. To this purpose, combination of interest rate reduction and expansion of volumes should be implemented.
