CBA increases refinancing rate to 8.25%March 4, 2011 - 18:53 AMT PanARMENIAN.Net - During the March 4 sitting, the Board of the Central Bank of Armenia (CBA) increased the refinancing rate by 0.5% to bring it to 8.25%. The Board is concerned over the expansion of the inflation environment that is conditioned by the current developments at global food and raw materials markets, as well as maintained high prices as a result of reduction in supply of agricultural products in 2010, the CBA press service reported. The Board believes that gradual toughening of the monetary policy and assistance of other state structures will allow bringing the inflation rate to the target corridor in the first half of 2011. 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 | Get Started: An educational platform for young startuppers The Get Started program which operates in two phases is an important platform for young startuppers. Byblos Bank Armenia celebrates Students' Day with scholarship recipients YSU students who received scholarships from Byblos Bank Armenia gathered in a casual setting to meet with the Bank's CEO, Hayk Stepanyan. Azerbaijan extends Rune Vardanyan’s arrest by 5 months A court in Azerbaijan has extended the arrest of former Nagorno-Karabakh leader Ruben Vardanyan by five months. Armenia border residents dissatisfied with delimitation Residents Kirants are dissatisfied with the results of the delimitation of the border between Armenia and Azerbaijan. |