Ararat Ghukasyan: Rise In Refinancing Interest Rate Reflects Current Situation

/PanARMENIAN.Net/
25.01.2010 15:59 GMT+04:00

/PanARMENIAN.Net/ Refinancing interest rate in Armenia is an indicator
of the proper liquidity level, Ararat Ghukasyan , chairman of the
Union of Banks of Armenia told a PanARMENIAN.Net reporter. "And
this step, as the Central Bank has already stated, was aimed at
reducing inflationary pressures and, of course, indicates to the
proper liquidity level. In my opinion, rise in refinancing interest
rate reflects the current situation," he said.

As for the CBA policy’s consistency, according to Ararat Ghukasyan,
"the Central Bank is faithful to its policy: it is always reviewing
the interest rate: increasing or reducing it".

The CBA Board at its meeting on January 21 2010 decided to raise the
refinancing interest rate to 0.5 percentage points, setting it at
5.5 per cent.