Thu, 3 April
15.1 C
Yerevan
USD: 391.16 RUB: 4.65 EUR: 422.18 GEL: 141.47 GBP: 505.97
spot_img

Armenia central bank cuts key refinancing rate to 6.75 pct from 7.25 pct

YEREVAN, September 27. /ARKA/. Armenia’s Central Bank said today it had decided to cut its refinancing rate to 6.75 percent from 7.25 percent.

The Central Bank said also the annual deflation in August was at 1.9 percent, up from 1.3 percent deflation in July. It also said the monthly deflation in August was 0.5 percent, compared to 2.3 percent deflation in July.

The government forecasts annual inflation in a 2.5-5.5 percent range for 2016, the same as last year’s target.

This is the sixth cut of the refinancing rate made 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%, in June –to 7.5% and in August – to 7. 25%. -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Arka news agency’s ranking of most profitable Armenian banks in 2019

In 2019, Armenia-based commercial banks earned a total of 78.8 billion drams in net profit, up from 56.4 billion drams they had earned in 2018, according to ARKA news agency's ranking of the most profitable commercial banks in the fourth quarter of 2019

Top ten Armenian banks by size of lending in 2019

In 2019, the overall loan portfolio of Armenia's banking sector grew by 16.4% to 3.572.2 trillion drams

LATEST NEWS

spot_imgspot_imgspot_img