Central bank cuts refinancing rate in Armenia to 5.0%April 28, 2020 - 18:56 AMT PanARMENIAN.Net - The Armenian Central Bank on Tuesday, April 28 cut its key refinancing rate by 0,25% to 5.50%. In March, the country's consumer price index rose by 0.5% month-on-month, but was down by 0.1% year-on-year, the bank said. The central bank will hold its next meeting on rates on October 29. The Central Bank also said that economic activity will continue shrinking in the second quarter too. Economic activity in Armenia shrank by 4.9% in March year-on-year, data from the National Statistical Service reveals, as a result of a lockdown imposed in mid-March in a bid to curb the Covid-19 outbreak. 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 | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |