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BOARD OF THE ARMENIAN CENTRAL BANK LOWERED THE REFINANCING RATE, ESTABLISHING IT AT THE LEVEL OF 4.5%
Mediamax, Armenia
April 3 2007
Yerevan, April 3 /Mediamax/. The Board of the Central Bank (CB) of
Armenia lowered today the refinancing rate for 0.25 percent points,
establishing it at the level of 4.5%.
As Mediamax was told in the press service of the Armenian CB, in March
2007, as compared to February, 0.6% price-cutting is registered. In
these conditions the inflation made 4.4% in the 12-month period -
0.7 percent points lower that the planned level of inflation for the
first quarter of 2007.
The Board of the Armenian Central Bank believes that the inflationary
pressure from outside has considerably smoothened, and the existing
tendencies in economy do not create conditions for the increase
of the inflationary pressure, reasoned by the development of the
aggregate demand.
In this situation, the Board of the Armenian CB considers it realistic
that the real inflation will be lower than the level, targeted at
the level of 4%.
In the conditions of preservation of the present prospects of economy
development, the CB Board does not rule out the probability of a
further clarification of the interest rates.
Mediamax, Armenia
April 3 2007
Yerevan, April 3 /Mediamax/. The Board of the Central Bank (CB) of
Armenia lowered today the refinancing rate for 0.25 percent points,
establishing it at the level of 4.5%.
As Mediamax was told in the press service of the Armenian CB, in March
2007, as compared to February, 0.6% price-cutting is registered. In
these conditions the inflation made 4.4% in the 12-month period -
0.7 percent points lower that the planned level of inflation for the
first quarter of 2007.
The Board of the Armenian Central Bank believes that the inflationary
pressure from outside has considerably smoothened, and the existing
tendencies in economy do not create conditions for the increase
of the inflationary pressure, reasoned by the development of the
aggregate demand.
In this situation, the Board of the Armenian CB considers it realistic
that the real inflation will be lower than the level, targeted at
the level of 4%.
In the conditions of preservation of the present prospects of economy
development, the CB Board does not rule out the probability of a
further clarification of the interest rates.