YEREVAN, December 6. / ARKA /. The yield on Armenian government bonds is falling under the influence of protracted weakening of monetary conditions by the Central Bank, the regulator said in an inflation report.
“The ongoing weakening by the Central Bank of monetary conditions has had an impact on the market of short-term government bonds with average quarterly yield on short-term government bonds decreasing by 2.38 percentage points to 7.87%. In September alone, the average yield decreased by 1.98 p.p. when compared to June 2016, to 7.76% “, – the report says.
The lowering of rates has affected the entire curve of government bonds yield. From the beginning of the year the yields on medium- and long-term bonds dropped by 2.5 and 2.0 percentage points respectively, the report says.
Armenia’s Central Bank has reduced its refinancing rate sixth times this year to 6.75%.-0-
