{"id":112127,"date":"2018-01-18T14:49:40","date_gmt":"2018-01-18T14:49:40","guid":{"rendered":"https:\/\/armbanks.am\/2018\/01\/18\/247096\/"},"modified":"2024-12-15T13:32:15","modified_gmt":"2024-12-15T13:32:15","slug":"armenian-central-bank-is-likely-to-raise-refinancing-rate-daily-says","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2018\/01\/18\/112127\/","title":{"rendered":"Armenian central bank is likely to raise refinancing rate, daily says"},"content":{"rendered":"<p><strong>YEREVAN, January 18. \/ARKA\/.<\/strong> Armenia\u2019s Central Bank is very likely to raise soon the key refinancing rate, the local daily \u2018Haykakan Zhamanak\u2019 (Armenian Time) says in its today\u2019s issue, adding that if this does happen the move will gradually push up the interest rates on loans provided to businesses and the people. The daily\u2019s forecast is based on a hint which it saw in the latest statement by the regulator.<\/p>\n<p>&#8220;By making loans more expensive, the Central Bank will try to curb inflation. In other words, more expensive loans will lead to a slowdown in economic activity, which, in turn, will lead to a decrease in the purchasing power of the population,&#8221; the daily says.<\/p>\n<p>It says according to the classical economic rules, if the population&#8217;s solvency falls, the inflation rate also decreases. The whole problem is that classical economic rules do not always work in Armenia, according to the pro-opposition newspaper. In particular, in a monopolized economy, prices may go up not because of market factors, but because of \u2018the whims of businesses.\u201d In such circumstances, the change of the refinancing rate may lead to serious negative consequences, it says.<\/p>\n<p>On December 26, Armenia&#8217;s Central Bank decided to keep its key refinancing rate unchanged at 6 percent. It suspended monetary policy easing in March last year and in 2016 alone it lowered the key refinancing rate 8 times.<\/p>\n<p>Consumer prices in December 2017 increased by 2.6% year-on-year with food products (including alcoholic beverages and tobacco products) rising by 5.3% and non-food products by 1.7%, while services decreased by 0.5%. The government-projected inflation for 2017 is 4% (\u00b1 1.5%). -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Armenia\u2019s Central Bank is very likely to raise soon the key refinancing rate, the local daily \u2018Haykakan Zhamanak\u2019 (Armenian Time) says in its today\u2019s issue<\/p>\n","protected":false},"author":1,"featured_media":157472,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[15837,12669,329],"class_list":{"0":"post-112127","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-banks-en-en","8":"category-news","9":"tag-armenia-2","10":"tag-refinancing-rate","11":"tag-329"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/112127","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=112127"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/112127\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/157472"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=112127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=112127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=112127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}