Interfax, Russia
June 9 2009
Armenia’s Central Bank lowers refinancing rate from 6.25% to 6%
YEREVAN June 9
The Central Bank of Armenia decided on Tuesday to lower the
refinancing rate from 6.25% to 6% as of June 9, the CB said in a
statement.
The CB believes that lowering interest rate is necessary for
stimulating lending and restoring the country’s economy.
This is the fourth rate decrease since March 3 of this year when,
having announced its return to a floating currency rate, the CB
increased the refinancing rate by one percentage point to 7.75%.
On April 7, the refinancing rate was lowered to 7.5% and to 7.25% on
May 12. The next rate decrease was on May 22 by one percentage point
to 6.25%.