VTB Bank (Armenia) head expects no revision of key refinancing rate any time soon

Banks

YEREVAN, October 26. / ARKA /. Yuir Gusev, the acting chairman of the Russian-owned VTB Bank (Armenia), told ARKA news agency he did not expect Armenia’s Central Bank to revise its key refinancing rate any time soon.

He attributed his forecast  to lack of corresponding macroeconomics. He said also a revision of the rate would have no tangible effect on the banking system.

Mr. Gusev said  the banking sector today depends on other macroeconomic indicators rather than on the refinancing rate. On October 9 Armenia’s Central Bank decided to leave its refinancing rate unchanged at 8%.  -0-

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