Armenia's central bank said on Tuesday, September 27 it had decided to cut its refinancing rateby 1% - to 6.75% from 7.2%.

Annual deflation in the country was at 1.9% in August, compared to 1.3% deflation in July, according to central bank data.

Monthly deflation in August was 0.%, compared to 2.3% deflation in July.

The government forecasts annual inflation in a 2.5-5.5% range in 2016, the same as last year's target.