Tue, 21 October
14.1 C
Yerevan
USD: 382.53 RUB: 4.71 EUR: 444.42 GEL: 141.18 GBP: 511.94

Armenian Central Bank leaves refinancing rate at 6.75%

YEREVAN, September 23. /ARKA/. The board of the Central Bank of Armenia has left the benchmark refinancing rate at 6.75%, the central bank’s press office reported on Tuesday.

In its report, the board says that inflation was recorded at 0.7% in August against 0.3% of the same month a year earlier. As a result, 12-month inflation rose slightly reaching 0.8% in late August.

The central bank’s board says that inflation environment will keep expanding in the coming months and will stand within the projected frames in the first half of 2015.

Outside demand is recovering slowly as deflation pressures are seen at commodity and raw material markets impacted by the growing demand. Especially markets’ energy carriers and wheat segments will undergo deflation pressures.

Nevertheless, the board placed it on record that considerable uncertainly connected with economic prospects in partner countries and commodities and raw materials markets still remains under impacts of geopolitical developments outside the country.

Economic activity showed some rally in the second quarter of 2014, but economic growth is still slow.

Despite low demand in both inside and outside economies, the central bank’s board finds the consistent relaxation of monetary conditions is sufficient for having gross demand expanded and inflation paces restored under the expected in the second half of 2014 expansion of the tax and budgetary policy and introduction of obligatory marking for particular goods.

As a result, the 12-month inflation will gradually rise in the forth quarter of this year and in the first quarter of 2015 coming close to the projected indicator.

The latest change in the refinancing rate was made on August 12, 2014. The central bank then lowered it by 0.25 percentage points to 6.75%.

In the 2014 government budget, inflation is projected at 4% (±1.5%) and GDP growth at 5.2%. –0–

spot_img

POPULAR

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

Armenia is experiencing an investment boom: opportunities, barriers and main misconceptions

Armenia's investment market is experiencing a period of active development: the number of issues is growing, digital technologies simplify access to financial instruments.

Moody’s upgrades Converse Bank’s ratings

Moody's Ratings has upgraded Converse Bank CJSC's long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

“We want the word ‘investor’ in Armenia to mean normality, not elitism” – Freedom Broker Armenia

ARKA news agency spoke with Freedom Broker Armenia Director Ovak Ovakimian about the transformation of investment thinking, company strategy and trust as an economic value.

LATEST NEWS

spot_imgspot_imgspot_img