Tue, 1 July
14.1 C
Yerevan
USD: 384.47 RUB: 4.90 EUR: 450.83 GEL: 141.25 GBP: 526.80

Armenian Central Bank keeps key rate unchanged at 6 percent

YEREVAN, June 27. /ARKA/. Armenia’s Central Bank decided today to keep the refinancing rate unchanged at 6%. The bank said in a statement that a deflation of 0.2% was recorded in May, down from 0.7% deflation recorded in May of 2016. As a result the 12-month inflation continued to expand, reaching 1.6% at the end of May, 2017.

Since the outlook for world economic growth continues to improve slowly, and some short-term deflationary effects have been observed in international commodity markets, the Central Bank said it did not expect significant inflationary impacts from the external sector in the coming months.

The Central Bank noted also that the high growth pace in the second quarter was prompted by high growth in mining, services and trade sectors. The regulator noted also the gradual recovery of domestic demand saying if macroeconomic developments occur according to the forecasted scenario, monetary conditions will remain unchanged for some time.

Nevertheless, given the risks of deviating from the inflation recovery path, the Central Bank will make appropriate adjustments to the monetary policy to ensure the planned mid-term target inflation band.
The Central Bank suspended monetary policy easing in March this year. In 2016 alone it lowered the refinancing rate 8 times. The government-projected inflation rate for 2017 is 4% (± 1.5%). -0-

spot_img

POPULAR

Armenia to receive EUR 26 million loan from KfW bank for renewable energy development

Armenia will receive a loan and a grant from the German KfW bank for the implementation of the "Renewable Energy and Energy Efficiency Development" program.

Ratio of loans to deposits in commercial banks of Armenia has improved – WB review

In April 2025, deposits and loans of commercial banks of Armenia increased by 1.5% y/y and 0.8% y/y, respectively, slightly improving the ratio of loans to deposits compared to the figures for the previous year.

Euro falls by 0.62 points to 450.23 drams

The average market exchange rate of the US dollar against the Armenian dram as of June 27, 2025, decreased by 0.59 points compared to June 26 and amounted to 384.32 drams.

Armenia’s budget remained in surplus through April, despite a projected deficit

Armenia’s budget remained in surplus through April, despite a projected deficit, according to World Bank's Armenia Monthly Economic Update – June 2025.

AMX Reaffirms Compliance with International ISO Standards

The Armenia Stock Exchange and Central Depository (AMX) have successfully completed their compliance certification with ISO 27001:2022 for Information Security Management and ISO 9001:2015 for Quality Management Systems.

LATEST NEWS

spot_imgspot_imgspot_img