{"id":96473,"date":"2016-03-30T14:58:40","date_gmt":"2016-03-30T14:58:40","guid":{"rendered":"https:\/\/armbanks.am\/2016\/03\/30\/244402\/"},"modified":"2024-12-15T13:22:53","modified_gmt":"2024-12-15T13:22:53","slug":"daily-rebukes-central-bank-for-its-reluctance-to-make-a-bigger-cut-of-refinancing-rate","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2016\/03\/30\/96473\/","title":{"rendered":"Daily rebukes central bank for its reluctance to make a bigger cut of refinancing rate"},"content":{"rendered":"<p><strong>YEREVAN, March 30. \/ARKA\/.<\/strong> Armenian daily \u2018Haykakan Zhamanak\u201d (Armenian Time) has rebuked today the Central Bank for its reluctance to cut the benchmark refinancing rate by 4-5 percentage points.<\/p>\n<p>On Tuesday the daily cut the refinancing rate by only 0.25 percentage points, setting it at 8.25%. The two previous rate cuts were announced on February 16 and December 22.<\/p>\n<p>According to the regulator, the cut was prompted by a decrease in the national consumer price index by 1.4 percent year on year last month because of the decreased cost of imported foodstuffs.<\/p>\n<p>The newspaper claims that the Central Bank had a historical opportunity to significantly reduce the refinancing rate because of the deflation.<\/p>\n<p>&#8220;According to Armenian law on state budget and the common economic standards, a 5-6% rise in prices is a norm, while Armenia saw a deflation of 1.7%.<\/p>\n<p>This means that when setting the refinancing rate\u00a0 the Central Bank had a 7-8 % inflation rate \u2018in store\u2019 In other words, the refinancing rate could have been cut\u00a0\u00a0 by\u00a0 4-5 percentage points,&#8221; the newspaper says.<\/p>\n<p>As a result, as the newspaper notes, the 0.25% cut in the refinancing rate will not have any meaningful impact on the rate of loans provided to businesses and households. -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Armenian daily \u2018Haykakan Zhamanak\u201d (Armenian Time) has rebuked today the Central Bank for its reluctance to cut the benchmark refinancing rate by 4-5 percentage points<\/p>\n","protected":false},"author":1,"featured_media":157940,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[15865,12669],"class_list":{"0":"post-96473","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-central-bank-2","10":"tag-refinancing-rate"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/96473","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=96473"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/96473\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/157940"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=96473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=96473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=96473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}