During the May 11 sitting, the Central Bank of Armenia decided to increase the refinancing rate by 0.25%, bringing it to 7.25%, the CBA press service reported.

1.3% inflation was recorded in April as compared with March, due to which the 12-month index of inflation reduced by 2 percentage points as compared with the previous month, totaling 6.8%.

Given the current macroeconomic trends, the Central Bank Council believes that the toughening of monetary policy should continue at a slower pace to form and preserve positive real interest rates during the entire forecasted period.