Central bank of Armenia raises annual refinancing rate 0.25 points to
6.75%
YEREVAN, May 5. /ARKA/. On Monday, Central Bank of Armenia raised
annual refinancing rate 0.25 percentage points to 6.75%, the Central
Bank’s press office reports.
The CBA Board confirmed the information that high inflation rates
remain on world markets impacting domestic prices for foodstuff.
The outside environment is volatile now, and it is unclear how things
will develop.
The Central Bank also points out that secondary impact of the rise in
foodstuff prices has intensified driving non-food prices up.
The CBA is gradually tightening money-and-credit policy amid ongoing
inflation pressure in a bid to mitigate inflation forecast and
neutralize secondary impact of the mentioned factors.
Inflation rate was recorded at 1.1% in Armenia in April 2008 as
compared with March and 10.7% as compared with the corresponding period
last year ` 4 percentage points upper than that of late 2007. Under the
state budget, inflation is planned to be 4% (+-1.5%) by late 2008. -0–