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CBA LEAVES REFINANCING INTEREST RATE UNCHANGED - 4.5%
Noyan Tapan
Jun 04 2007
YEREVAN, JUNE 4, NOYAN TAPAN. At the June 4 sitting, the Board of the
Central Bank of Armenia (CBA) decided to leave the interest rate of
refinancing unchanged, setting it at 4.5%.
According to a press release submitted to NT from the CBA press
service, a 2.1% inflation was registered in Armenia in May on April
2007, in connection with which the 12-month inflation made 3.8%, which
is lower by 1.4 percentage points than the same index in early 2007. In
April and May 2007, the development of the microeconomic environment
was mainly in line with forecasts of the second quarter: inflation
pressures from the external sector were moderate compared with last
year - although the level of international oil prices continued to
be high than was expected, while overall-demand related development
indicated the absence of inflation pressures from domestic sources. In
the opinion of the CBA Board, in this situation the actual inflation
will remain in the target interval in late 2007 and the first half of
2008. In case of a change of economic development prospects in the
next few months, the CBA Board does not rule out the possibility of
changing the interest rates.
From: Emil Lazarian | Ararat NewsPress
Noyan Tapan
Jun 04 2007
YEREVAN, JUNE 4, NOYAN TAPAN. At the June 4 sitting, the Board of the
Central Bank of Armenia (CBA) decided to leave the interest rate of
refinancing unchanged, setting it at 4.5%.
According to a press release submitted to NT from the CBA press
service, a 2.1% inflation was registered in Armenia in May on April
2007, in connection with which the 12-month inflation made 3.8%, which
is lower by 1.4 percentage points than the same index in early 2007. In
April and May 2007, the development of the microeconomic environment
was mainly in line with forecasts of the second quarter: inflation
pressures from the external sector were moderate compared with last
year - although the level of international oil prices continued to
be high than was expected, while overall-demand related development
indicated the absence of inflation pressures from domestic sources. In
the opinion of the CBA Board, in this situation the actual inflation
will remain in the target interval in late 2007 and the first half of
2008. In case of a change of economic development prospects in the
next few months, the CBA Board does not rule out the possibility of
changing the interest rates.
From: Emil Lazarian | Ararat NewsPress