ARMENIAN CENTRAL BANK LOWERS REFINANCING RATE TO 6.75% FROM 7%

Interfax
Feb 11 2009
Russia

The Central Bank of Armenia has decided to lower its refinancing rate
by 0.25 percentage points to 6.75% from 7% starting from February 10,
the bank’s press service said.

The Central Bank said that the slowdown in growth in domestic demand
as well as the continuing deflationary environment would contribute
to a low level of inflation during the global economic crisis.

According to the Central Bank, Armenia saw inflation of 1.2% in
January 2009 and 4% over the last twelve months.