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Central Bank changes rate son deposits attracted from commercial banks to 6.5 percent

YEREVAN, November 6. / ARKA /. The Central Bank of Armenia at its meeting on Tuesday decided to raise the interest rate on deposits attracted by it  from commercial banks by 0.5 pp  to  6.5%, and to lower by 0.5 p.p. the rate on Lombard repo  to  9.5%.

According to the Bank, the rates on lombard repo and attracted deposits  in October were 10% and 6% respectively.

As previously reported, the Board of the Central Bank made a decision to reduce the margin between the rates on Lombard repo and deposits of commercial banks in order to reduce the volatility of the interest rates in the interbank market.  -0-

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