Armenia Central Bank Cuts Refinancing Rate To 7.25 Pct

ARMENIA CENTRAL. BANK CUTS REFINANCING RATE TO 7.25 PCT

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May 12 2009

YEREVAN, May 12 (Reuters) – Armenia’s central bank said on Tuesday
it had cut its refinancing rate to 7.25 percent from 7.50 percent.

The central bank floated the country’s dram currency in March and
at the time raised the refinancing rate by 100 basis points to 7.75
percent.