Central Bank of Armenia lowers refinancing rate to 8%November 12, 2013 - 18:40 AMT PanARMENIAN.Net - The Central Bank of Armenia (CBA) lowered the refinancing rate by 0,5 pct, to 8%. A 0,3% inflation was posted in October against 1,2% from the year earlier period. The 12-month inflation has dropped to total 7,1% in late October. Inflation decrease tendency is mainly prompted by the CBA’s toughening of money-and-credit terms and lower-than-planned economic growth rate. The CBA Council predicted progressive decrease in the 12-month inflation rate. Also, according to the Council, slower growth rate was triggered by a VAT drop in the construction sector, as well as high inflation environment formed over a hike in energy tariffs. 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 | Ruling MPs, Foreign Minister talk Armenia-Azerbaijan processes MOs from the ruling Civil Contract party met with the Foreign Minister Ararat Mirzoyan in the Armenian parliament. Russia: Armenia’s frozen membership weakens CSTO position in Caucasus A Russian envoy said any step that could alienate the CSTO member states from each other is “deeply wrong”. Prosecutors to appeal Armenia ex-President’s acquittal Sargsyan was acquitted on Friday, May 31 more than four years after going on trial on corruption charges. Armenia: 28 protesters arrested after clash with police The Investigative Committee of Armenia has announced the arrest of 28 participants of an opposition demonstration. |