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Armenia’s Central Bank lowers refinancing rate from 6.25% to 6%

Interfax, Russia
June 9 2009

Armenia’s Central Bank lowers refinancing rate from 6.25% to 6%

YEREVAN June 9

The Central Bank of Armenia decided on Tuesday to lower the
refinancing rate from 6.25% to 6% as of June 9, the CB said in a
statement.

The CB believes that lowering interest rate is necessary for
stimulating lending and restoring the country’s economy.

This is the fourth rate decrease since March 3 of this year when,
having announced its return to a floating currency rate, the CB
increased the refinancing rate by one percentage point to 7.75%.

On April 7, the refinancing rate was lowered to 7.5% and to 7.25% on
May 12. The next rate decrease was on May 22 by one percentage point
to 6.25%.

Khoyetsian Rose:
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