Central Bank of Armenia lowers refinancing rate to 6.75%

YEREVAN, February 4. /ARKA/. At its meeting on February 4, the Board of the Central Bank of Armenia reduced the refinancing rate by 0.25 percentage points, setting it at 6.75%.

The Lombard repo rate was also lowered to 8.25%, and the rate for attracting funds was set at 5.25%, according to the regulator’s press service.

This marks the 14th consecutive reduction in the refinancing rate, beginning in June 2023.

To illustrate the timeline: on June 13, 2023, the Central Bank set the rate at 10.5%, reducing it by 0.25 percentage points. On August 1, the rate was lowered to 10.25%, followed by further reductions: to 9.75% on September 12, to 9.5% on October 31, to 9.25% on December 12, and to 8.75% on January 30, 2024. Other subsequent reductions occurred on March 12 (8.5%), April 30 (8.25%), June 11 (8%), July 30 (7.75%), September 10 (7.50%), October 29 (7.25%), and December 10 (7%).

spot_img

POPULAR

Acba Bank is a market maker for EBRD bonds in Armenia

Acba Bank will act as a market maker for dram-denominated bonds of the European Bank for Reconstruction and Development (EBRD) on the Armenia Securities Exchange (ASE), ensuring their liquidity in the secondary market, the bank's press service reported.

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.

Armenia’s sovereign rating increase should lower interest rates, but external factors are putting inflationary pressure on the country: Pashinyan

During government hour in parliament on Wednesday, Armenian Prime Minister Nikol Pashinyan raised the possibility of raising interest rates on loans.

IDBank in Monaco: Armenian Financial Innovation on a Prestigious International Stage

During the two-day exhibition held in Monte Carlo, Armenia and Armenian products were showcased to the international community, ranging from fine jewelry and diamond manufacturing to innovative banking solutions.

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.

LATEST NEWS

spot_imgspot_imgspot_img