{"id":152967,"date":"2024-01-30T13:28:24","date_gmt":"2024-01-30T13:28:24","guid":{"rendered":"https:\/\/armbanks.am\/2024\/01\/30\/251323\/"},"modified":"2024-12-15T13:53:37","modified_gmt":"2024-12-15T13:53:37","slug":"galstyan-names-two-factors-that-influenced-central-banks-decision-to-lower-refinancing-rate","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2024\/01\/30\/152967\/","title":{"rendered":"Galstyan names two factors that influenced Central Bank&#8217;s decision to lower refinancing rate"},"content":{"rendered":"\n<p><strong>YEREVAN, January 30. \/ARKA\/. <\/strong>The Chairman of the Central Bank of Armenia Martin Galstyan said today that two factors influenced the regulator&#8217;s decision to lower the refinancing rate by 0.5 percentage points today, setting it at 8.75%. This is the 6th downgrade since June last year.<\/p>\n\n\n\n<p>Glastian pointed to the downward dynamics of hard commodity prices, noting that stabilization trends are being observed.&nbsp;&nbsp;<\/p>\n\n\n\n<p>&#8220;In addition, due to the increased supply in the labor market, we see that the wage boom seen in recent years has some tendencies to soften. These two factors had a significant impact on our decision,&#8221; he said.&nbsp;&nbsp;<\/p>\n\n\n\n<p>In this regard, the head of the regulator noted that the growth of nominal wages in the private sector after 2021 reached about 30% at the peak, after which there was a significant decline, and according to the situation as of November 2023, the&nbsp;&nbsp;annual growth amounted to 10%.<\/p>\n\n\n\n<p>According to Galstyan, in some sectors, particularly services, wage growth remains high, but other segments are recording significant declines.&nbsp;&nbsp;<\/p>\n\n\n\n<p>&#8220;Thus, we have no serious concerns about the impact of this phenomenon on the further development of inflation,&#8221; he explained.&nbsp;&nbsp;<\/p>\n\n\n\n<p>In this context, the Central Bank Chairman noted that a certain part of refugees from Nagorno-Karabakh has already integrated into Armenia&#8217;s labor market along with workers from other countries.<\/p>\n\n\n\n<p>&#8220;We believe that these two factors have conditioned the easing of overheating in the labor market. It also allowed us to be more bold in making today&#8217;s decision on the refinancing rate,&#8221; he explained. -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Chairman of the Central Bank of Armenia Martin Galstyan said today that two factors influenced the regulator&#8217;s decision to lower the refinancing rate by 0.5 percentage points today, setting it at 8.75%. This is the 6th downgrade since June last year<\/p>\n","protected":false},"author":1,"featured_media":200919,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12139,9216],"tags":[],"class_list":{"0":"post-152967","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy-en","8":"category-news"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/152967","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=152967"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/152967\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/200919"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=152967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=152967"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=152967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}