Interfax, Russia
July 10 2009
Armenian Central Bank lowers refinancing rate to 5.5%
YEREVAN July 10
The Central Bank of Armenia decided on lowering the refinancing rate
on Tuesday from 6% to 5.5%, the country’s Finance Minister Tigran
Davtyan, said at press conference on Friday.
He said that the decision came into effect on July 7.
Davtyan added that the Finance Ministry welcomed the CB’s decision to
lower the refinancing rate, which aims at reducing loan rates and
stimulating the real sector of the economy.
The CB said that the last reduction of the refinancing rate took place
on June 9, 2009, when it was lowered from 6.25% to 6%. Previous to
this the last reduction was on May 22 – from 7.25% to 6.25%, May 12 –
from 7.5% to 7.25%, April 7 – from 7.75% to 7.5%, March 3 – an
increase from 6.75% to 7.75%, February 10 – lowered from 7% to 6.75%
and January 13 – from 7.25% to 7%.