ARMENIAN CB REDUCES ANNUAL REFINANCING RATE
ARKA
Jan 13, 2009
YEREVAN, January 13. /ARKA/. At its sitting today the Board of the
Central Bank of Armenia (CBA) decided to reduce the annual refinancing
rate by 0.25% down to 7%.
The CBA Board confirmed further relief of inflationary pressures last
December due to the continuing downtrends in the world economic growth
rates. The development continued on the domestic food and nonfood
markets and caused a considerable fall in the general inflation rates.
Despite uncertain internal and external developments, the foreign
investment environment, influenced by the decreasing world demand,
will continue influencing the domestic market during the period
under review.
The inflation rates will continue falling as well. Under the
circumstances CBA considers it advisable to continue moderating its
monetary policy thereby facilitating the long-term economic growth.
An inflation rate of 0.1% was registered in Armenia last December
as compared with last November, the annual inflation rate being 5.2%
(a fall of 1.4%).
An inflation rate of 4% (±1.5%) was budgeted in Armenia for last year.
–Boundary_(ID_VZjpDHGLfw/KSJfYXD1q2g)–