YEREVAN, December 8. \/ARKA\/. The board of the Central Bank of Armenia decided Tuesday to leave 5% refinancing rate unchanged, the press office of the central bank reports.<\/p>\n
According to the report, Armenia recorded 1.2% inflation in November, compared with October, and the 12-month inflation reached 4.6% after rising 1.1 percentage points, compared with the previous month\u2019s indicator.<\/p>\n
The CBA board placed it on record that outside inflation pressure has intensified over the mentioned period due to faster-than-expected increase in world prices for essential foods and mining industry\u2019s products.<\/p>\n
Stronger inflation pressure is expected as domestic economic activity makes a gradual rally.<\/p>\n
\u201cTaking into account ongoing economic decline and volatility of gross demand recovery paces, the central bank\u2019s board decided to refrain from tightening monetary conditions,\u201d the press release says.<\/p>\n
The last decrease of the annual refinancing rate took place on September 8, 2009 – the central bank lowered it by 0.25 percentage points to 5%.<\/p>\n
Before that, on May 22, the central bank drove rate 1.0 points down to 6.25%.<\/p>\n
Later, on June 9, the bank lowered it 0.25 points to 6%. On July 7, the rate was lowered again by 0.5% to 5.5% and on August 11 to 5.25%. -0–<\/p>\n","protected":false},"excerpt":{"rendered":"
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