Increase of refinancing rate will affect Armenian lending market, but with a certain lag – Central Bank

YEREVAN, August 3. /ARKA/. An increase in the refinancing rate will have a certain impact on the lending market, Deputy Chairman of Armenia’s Central Bank Nerses Yeritsyan said on Tuesday.

“But we believe that the trends that currently exist in the banking system, in the financial market will persist,” he explained saying that the impact of the Central Bank’s decisions occurs with a certain lag.

Yeritsyan said that the policy of the Central Bank is aimed at curbing inflation and all other parameters are derived from it.

The previous day, the Central Bank raised the refinancing rate by 0.25 percentage points to 9.5%. Before that the regulator had raised the refinancing rate on March 15 this year by 1.25 percentage points to 9.25%. -0-

spot_img

POPULAR

IDBank and the “Dekavva Fund” Stand with People from Artsakh

As part of the “Side by Side” initiative, IDBank has launched a new partnership, this time supporting families forcibly displaced from Artsakh who are currently living in the Sevan community.

Acba Bank and “Armenian Programs” have simplified banking operations for businesses

As part of the collaboration between Acba Bank and Armenian Programs, banking operations and accounting have been combined into a single, integrated system.

Central Bank of Armenia raised its monetary policy rate for the first time in over three years: how it has changed since the end...

Yesterday, the Central Bank of Armenia raised its monetary policy rate for the first time in over three years. After setting the rate at 10.75% in December 2022, it remained unchanged for several months, and in June 2023, the Central Bank began a gradual rate reduction cycle.

Armbanks Weekly Digest: Key Events in the Armenian Financial Market (September 14–20)

This week, Armenia's financial agenda was shaped by changes in monetary policy direction, the cost of bank funding, inflation, and the situation in the foreign exchange market.

Central Bank rate hike will not have a significant impact on market sentiment and investment activity in Armenia – Freedom Broker Armenia CEO

Freedom Broker Armenia Director Hovak Hovakimyan does not expect the Central Bank rate hike to have a significant impact on market sentiment and investment activity in the local market.

LATEST NEWS

spot_imgspot_imgspot_img