Announcement

Collapse
No announcement yet.

CBA Raises Refinancing Interest Rate By 0.25% To 6.5%

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • CBA Raises Refinancing Interest Rate By 0.25% To 6.5%

    CBA RAISES REFINANCING INTEREST RATE BY 0.25% TO 6.5%

    Noyan Tapan
    April 2, 2008

    YEREVAN, APRIL 2, NOYAN TAPAN. At the April 2 sitting, the Central
    Bank of Armenia (CBA) Board raised the interest rate of refinancing
    by 0.25% to 6.5%.

    According to the CBA press service, 1.4% inflation was registered in
    March on February 2008, as a result of which the 12-month inflation
    made 9.6%, which is by about 3% higher than the level in late 2007.

    The CBA Board stated that the high inflation pressures in international
    market continued to get stronger in the first quarter, affecting
    the domestic prices of foodstuffs. At the same time, the secondary
    influence of the indicated developments has become apparent by leading
    to an increase in nonfood commodity prices and service tariffs.

    The CBA Board believes that inflation pressures will continue in
    the near future, and the gradual tightening of monetary and credit
    conditions aims to mitigate the inflation expectations and neutralize
    the secondary impact of the indicated developments.

    From: Emil Lazarian | Ararat NewsPress
Working...
X