Armenia's Central Bank reduced refinancing rate by 0.25 percentage point to 7.25 per cent
Yesterday Armenia's Central Bank Council made a decision to reduce the refinancing interest rate by 0.25 percentage point to 7.25 per cent annually.
As the CB press office reported, the council of the central bank stated that current inflationary developments mainly correspond to the directions of the forecasted period.
According to the CB press office, since the second quarter of this year the inflation pace, as expected, began to accelerate. However, the inflation pace will not surpass the upper target within forecasted period.
Simultaneously, further inflation tendency will be conditioned by indirect impact of rate increase for main utility services within this April. Besides, the growth of inflation will be influenced by the continuing process of adjustment of prices for imported goods, which started due to dram devaluation in the early march this year.
Lower GDP rate, than balanced level for the forecasted period, and outer deflation environment moderate the impact of the above mentioned factors on the common level of prices. Implementation of the broad-based money and credit policy is considered reasonable by the Central Bank Council.
As the CB press office reported, the council of the central bank stated that current inflationary developments mainly correspond to the directions of the forecasted period.
According to the CB press office, since the second quarter of this year the inflation pace, as expected, began to accelerate. However, the inflation pace will not surpass the upper target within forecasted period.
Simultaneously, further inflation tendency will be conditioned by indirect impact of rate increase for main utility services within this April. Besides, the growth of inflation will be influenced by the continuing process of adjustment of prices for imported goods, which started due to dram devaluation in the early march this year.
Lower GDP rate, than balanced level for the forecasted period, and outer deflation environment moderate the impact of the above mentioned factors on the common level of prices. Implementation of the broad-based money and credit policy is considered reasonable by the Central Bank Council.
