ARMECONOMBANK HEAD PREDICTS POSSIBLE DECLINE OF INTEREST RATES IN ARMENIA IN LATE 2009
ArmInfo
2009-01-22 16:40:00
ArmInfo. Interest rates in Armenia will not change within 2009 but
they may suffer insignificant decline in late 2009, Chairman of
Armeconombank Board David Sukiasyan told media Thursday.
He mentioned that the last upwards trend of interests on deposits
and credits has been observed also in world markets. ‘At present we
attract international funds at an interest rate by 2-3 percent higher’,
he said. Sukiasyan highlighted that Armeconombank attracts deposits
at the annual interest of max 9% and may raise interest rates for
the deposits in the national dram.
The recent meeting of the Central Bank Council highlighted that the key
argument of sharp decline of interest rates is the continuing inflation
decline and related risks. CB Council called gradual reduction of rates
the most reasonable. Deposits and credits were up 2-3% to 7% and 18%
respectively in average for the third quarter of 2008. Downwards
trend was continued also in the 4th quarter.