YEREVAN, August 16. /ARKA/. Armenia’s Central Bank said today it had decided to cut its refinancing rate to 7.25 percent from 7.5 percent.
It said also the annual deflation in July was 1.3 percent, compared to 1.1 percent deflation in June. The monthly deflation in July was 2.3 percent, compared to 0.5 percent deflation in June.
The government’s projection of annual inflation for 2016 is in a 2.5-5.5 percent range, the same as last year’s target.
This has been the fifth cutting of the refinancing rate by the regulator this year. In February, the rate was reduced from 8.75% to 8.5%, in March – to 8.25%, in May – to 7.75%, and in June – to 7.5%. -0
