THE CENTRAL BANK OF ARMENIA MAINTAINS THE REFINANCING INTEREST RATE AT 4,5%
ArmInfo
2007-06-04 22:30:00
At today’s session, the Council of the Central Bank of Armenia
maintained the refinancing interest rate at 4,5%.
The CBA press-service told ArmInfo that 2,1% inflation was observed in
Armenia in May 2007 as compared with April 2007. The annual inflation
made up 3,8%, which is by 1,4% lower than the index of the beginning
of 2007.
The CBA Council took into account the macroeconomic development
tendencies in Armenia in Apr-May 2007 and confirmed their compliance
with the forecasts for the second quarter: the external inflationary
pressure is moderate as compared with 2006, though international oil
prices excess the expected level and the change of gross demand proves
the lack of internal sources of additional inflationary pressures. In
this connection, the CBA Council adheres to the opinion that the
factual inflation will be formed within the framework of the targeted
level by the end of 2007 and in the first quarter of 2008. According
to the source, if the prospects of the country’s economic development
change within the next few months, the CBA Council doesn’t rule out
possible readjustment of interest rates.