Tue, 29 April
11.1 C
Yerevan
USD: 389.46 RUB: 4.73 EUR: 441.92 GEL: 141.70 GBP: 519.38
spot_img

Central Bank of Armenia leaves key rate unchanged

YEREVAN, September 4. /ARKA/. The Central Bank of Armenia said today it left its key refinancing rate unchanged at 8%. It also said prices in August dropped by 0.4%, as a result the 12-month inflation amounted to 2.5%, in line with the lower threshold of the projected annual 4 ± 1,5% inflation rate.

The Central Bank said also domestic and external economic developments in August proceeded mainly in line with the baseline scenario of the monetary and credit policy for the third quarter. Amid ongoing uncertainty regarding political solution to the debt problems of the developed countries, the low level of global demand will persist. On the other hand, the continued growth of grain prices has brought about inflationary environment that is partially reflected in the behavior of domestic prices.

The Central Bank said also the inflation pressure on domestic prices, caused by growing private demand will continue. This to some extent is being neutralized by the deterrent effect of fiscal policy.

“Inflationary developments of the last few months indicate that they are in line with the baseline scenario of monetary policy for the third quarter. Based on this the Central Bank Board is guided by the basic directions of the monetary policy,” it said.

“As a result it is expected that the 12-month inflation will be within the projected target,’ the Central Bank said.

At the same time, to reduce the volatility of the interest rates in the interbank market, the Board of the Central Bank will continue to reduce the difference between the interest rate of deposits attracted by the Central Bank and lombard repo, having decided to cut the difference from 5 p.p. to 4 p.p. -0-

spot_img

POPULAR

Armenia may access $25 mln from the IMF under the SBA agreement in June

An International Monetary Fund (IMF) team led by Iva Petrova visited Yerevan from March 31 to April 10, 2025, to conduct discussions for the fifth review under the Stand-By Arrangement (SBA) with Armenia.

Euro exchange rate down 1 point, while US dollar and ruble up

The average market exchange rate of the U.S. dollar to the Armenian dram on April 25, 2025, rose by 0.77 points compared to April 23 and amounted to AMD 390.33.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Armenia Enters Top 10 Countries in the World with Lowest Inflation in 2024 – IMF

Armenia was among the top 10 countries in the world with the lowest annual inflation in 2024. Such data is provided in an IMF study on 156 countries.

In Armenia, remittances have begun to recover after a 35% decline in 2024

On the demand side, average real wages in Armenia have increased in 2025, and net money transfers have shown an upward trend, contributing to consumption growth, according to the World Bank's Armenia Monthly Economic Update – April 2025.

LATEST NEWS

spot_imgspot_imgspot_img