EDB forecasts tightening of monetary policy by Central Bank of Armenia

Banks

YEREVAN, June 23. /ARKA/. The Eurasian Development Bank (EDB) says it expects Armenian Central Bank to tighten its monetary policy.

“The Central Bank of Armenia kept its refinancing rate at 6.75% at its meeting on June 17. The regulator noted that inflation expectations and price growth for services in Armenia have stabilized,” EDB says in its weekly macro review.

At the same time, it is noted that the risks of a stronger external pro-inflationary impact have increased against the backdrop of geopolitical tensions in the Middle East.

“This increases the likelihood of a tighter monetary policy trajectory by the Central Bank of Armenia than previously expected,” the EDB believes. -0-

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