12/11/2013 20:11
CBA reduces refinancing rate by 0.5 percentage points
At the November 12 sitting, the Board of the Central Bank of Armenia (CBA) took a decision to reduce refinancing rate by 0.5 percentage points and set it at 8%, the press service of CBA said.
0.3% inflation was recorded in Armenia in October 2013, as compared with 1.2% inflation in the same period of last year. Under such conditions the 12-moth inflation continued declining and made 7.1% in late October, which was due to a tight monetary policy of the CBA and lower economic growth rates than forecast. The CBA Board believes that 12-month inflation will continue to fall in the next few months.