CB: Today the risk of lowering inflation is high

2009-06-21 10:12:00

ArmInfo. Today the risk of lowering inflation is high, reports the
press service of the Central Bank of Armenia.

GDP is decreasing more quickly than was expected. So, the target
inflation level will hardly be exceeded due mostly to balanced currency
rate.

The CB has repeatedly pointed out the high uncertainty of the
macroeconomic situation, which is one of the key factors influencing
inflation. In the future inflation may either grow or drop depending on
the results of the government’s anti-crisis programs and the behavior
of the economy.

June 9 2009 the CB reduced the official rate from 6.25% to 6%. The
interest rates of deposits and lombard credits are 3% and 9%,
respectively.