CENTRAL BANK OF ARMENIA RAISES RATE OF REFINANCING FROM 5.5% TO 6.0%

ArmInfo
17.02.2010

ArmInfo.The Central Bank of Armenia has raised the rate of refinancing
from 5.5% to 6.0%, reports the CB’s press service.

In Jan 2010 as compared with Dec 2009 inflation was 1.7%, as compared
with Jan 2009 – 7% (1.5% more than planned).

The key factors fostering inflation are growing international prices
of raw materials and foodstuffs and restoring demand stimulated by
the CB’s expansionary policy.

Despite the forecast that the annual inflation will exceed the
planned level, the CB expects that the peak will be followed by
certain decline in Q1 2010.

The previous change was Jan 20 2010 when the rate of refinancing was
raised from 5% to 5.5%.