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-
