Tue, 29 April
13.1 C
Yerevan
USD: 389.46 RUB: 4.73 EUR: 441.92 GEL: 141.70 GBP: 519.38
spot_img

Armenia’s central bank cuts refinancing rate by 0.25 percentage point to 6%

YEREVAN, February 14. /ARKA/. Armenia’s Central Bank said today it has cut its refinancing rate by 0.25 percentage point to 6%. The Central Bank began to gradually reduce the refinancing rate from the second half of 2015. As a result, it fell from 10.5% in June 2015 to 6.25% in December 2016. During this period, the regulator reduced the refinancing rate 11 times, including 8 times in 2016.

According to the regulator, the inflation in January 2017 was at 2.6%, up from 2.2% inflation in the same month last year. As a result the 12-month deflation was softened to 0.6%.

The Central Bank said it does not expect a significant inflationary pressure from external markets because the global economic growth is still slow, while inflation processes at external commodity markets have not changed.
The regulator said although economic growth estimates for 2016 were revised downward due to the influence of demand factors, domestic demand nonetheless is gradually recovering thanks to stimulating monetary and fiscal policies implemented in 2015 and 2016.

The Central Bank said also that achieving the projected inflation will slow down due to expectations generated by the low prices of some non-food items, as well as by a decline in gas prices since January and electricity since February.

“Taking into account these factors, as well as a deterring fiscal policy for 2017 the Central Bank considers it appropriate and feasible to loosen monetary conditions”, it said in a statement. -0-

spot_img

POPULAR

Euro exchange rate down 1 point, while US dollar and ruble up

The average market exchange rate of the U.S. dollar to the Armenian dram on April 25, 2025, rose by 0.77 points compared to April 23 and amounted to AMD 390.33.

Armenia may access $25 mln from the IMF under the SBA agreement in June

An International Monetary Fund (IMF) team led by Iva Petrova visited Yerevan from March 31 to April 10, 2025, to conduct discussions for the fifth review under the Stand-By Arrangement (SBA) with Armenia.

Armenian Banks Contribute AMD 28.3 Billion in Taxes During Q1 2025

In the first quarter of 2025, all 18 commercial banks in Armenia ranked among the top 1,000 taxpayers, collectively contributing AMD 28.3 billion in taxes and duties, as reported by the State Revenue Committee.

Armenia’s international reserves rose to $3.9 billion in March, providing 2.9 months of import coverage – WB

Armenia's international reserves increased to $3.9 billion in March 2025, offering 2.9 months of import coverage, according to the World Bank's Monthly Economic Update for April 2025.

Armenia Enters Top 10 Countries in the World with Lowest Inflation in 2024 – IMF

Armenia was among the top 10 countries in the world with the lowest annual inflation in 2024. Such data is provided in an IMF study on 156 countries.

LATEST NEWS

spot_imgspot_imgspot_img