Mon, 28 July
22.1 C
Yerevan
USD: 383.94 RUB: 4.85 EUR: 450.25 GEL: 141.78 GBP: 516.63

Central bank to reduce Lombard repo rate in first quarter

YEREVAN, February 23. / ARKA /. Armenia’s Central Bank said today it will reduce again the rate on Lombard repo in the first quarter of this year in order to trigger a drop in rates in short-term loans in drams.

The regulator said it had raised  earlier this year the key refinancing rate to 10.5%  bringing it close to the rates on short-term loans in drams, which is expected to help stabilize the situation in the financial market”, – the report says.

At an extraordinary meeting on January 22, the Central Bank raised the key refinancing rate by 1 p.p. to 9.5% and lowered the rate on Lombard repo by 3 percentage points to 17%. At a February 10 meeting the regulator again raised the refinancing rate to 10.5% lowering the rate of Lombard repo to 14.5%.

Earlier, in order to curb the pressure on the currency market,  after US dollar jumped by 16.6 points in late 2014 November to 435 drams, the Central Bank started to raise the cost of short-term liquidity in drams by raising the Lombard repo rate to 21%. -0-

spot_img

POPULAR

Fitch expects inflation in Armenia to remain within the target level until 2027

International rating agency Fitch expects inflation in Armenia to remain within the target level until 2027, although soft fiscal policy and the projected moderate weakening of the dram create certain risks.

Fitch forecasts Armenia to tighten fiscal policy after 2027

Fitch Ratings analysts forecast a tightening of fiscal policy by the republic's authorities in a new report on Armenia.

A scheme for stealing funds through fake investment platforms  exposed in Yerevan

A criminal group operating in one of the capital's business centers and stealing citizens' money through Internet calls has been exposed in Armenia, the Investigative Committee of Armenia reports.

Armenian Market: Acceleration of Economic Activity is Positive for the Market

In the period from June 16 to June 30, 2025, the Armenian stock market demonstrated mixed dynamics.

Armenia’s economy to stabilize on 5.5% growth trajectory in 2025 – EDB forecast

According to EDB forecasts, Armenia's economy will stabilize on a 5.5% growth trajectory with domestic demand remaining the main driver of development.

LATEST NEWS

spot_imgspot_imgspot_img