YEREVAN, February 16. /ARKA/. The Eurasian Development Bank (EDB) expects the Central Bank of Armenia to cut the refinancing rate again in the first half of this year.
The Central Bank of Armenia at its first meeting in 2024 for the sixth time in a row lowered the refinancing rate by 0.5 p.p. to 8.75%, the lombard repo rate was reduced to 10.25% and the borrowing rate for commercial banks to 7.25%.
Eurasian Development Bank notes that the decision of the Central Bank il was made against the background of the deflationary background at the end of last year, including a significant weakening of external price pressure.
“Since the start of the easing cycle in the second half of 2023, the refinancing rate has cumulatively declined by 2 p.p.,” EDB said in a weekly review. -0-