17/03/2020 16:58
Armenia’s CB reduces refinancing rate by 0,25%, making it 5,25%
At the March 17 session the Central Bank Board decided to reduce the re-financing rate by 0,25%, making it 5,25%.
In February 2020 0,2% deflation has been registered against 0,6% inflation registered in the same span of the past year. As a result the 12-month long deflation made 0,5%.
The continuous spread of coronavirus in the world has a significant negative impact on the global economy and economic growth of partner countries.
According to the CB, the uncertainties have grown in the global markets, resulting in the reduction of stock indexes of developed countries, reduction of mining products, devaluation of currencies of developing countries. These developments are assessed as deflationary on the Armenia’s economy.