YEREVAN, March 25. /ARKA/. The council of the Central Bank of Armenia (CBA) lowered on Tuesday the Lombard repo rate by1.5 percentage point to 12%, CBA’s press office reported.
At the same time, the central bank decided to keep the refinancing rate at 10.5% level.
The tense in the financial and commodities’ markets after the last year developments has dropped, and the central bank continues lowering the short-term interest rates, says the report.
The last revision of the Lombard repo rate took place on March 14 when it was reduced from 14.5% to 13.5%.
For curbing the pressures on the currency market amid the dollar rate’s rocketing by 16.6 points to 435 drams per $1, the central bank raised the value of short-term dram liquidity on November 24 and raised the Lombard repo rate from 8.25% to 10.25%, and up to 20% later. Today the USD versus dram rate is 475.18 in Armenia. –0–
