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CBA REDUCES ANNUAL REFINANCING RATE
Information-Analytic Agency NEWS.am
Sept 8 2009
Armenia
At its sitting today, the Board of the Central Bank of Armenia (CBA)
decided to reduce the annual refinancing rate by 0.25% down to 5%. The
CBA press service told NEWS.am that the decision is in harmony with
the trends on the financial market and, without threatening the price
stability, contributes to economic revival.
The world economy continued showing signs of improvement accompanied by
a gradual rise in the prices for raw materials and some other product
items. Under the circumstances, despite further downward trends in
the aggregate demand, domestic markets did not register any deflation.
The CBA reports that a deflation rate of 0.4% was registered this
August as compared with this July. As a result, an annual inflation
rate reached 3.5%.
This is the seventh reduction of the annual refinancing rate since
the CBA returned to a floating rate policy: the rte was first reduced
down to 7.5%. On May 12, the CBA reduced the annual refinancing rate
down to 7.25%, and on May 22, down to 6.25%.
Information-Analytic Agency NEWS.am
Sept 8 2009
Armenia
At its sitting today, the Board of the Central Bank of Armenia (CBA)
decided to reduce the annual refinancing rate by 0.25% down to 5%. The
CBA press service told NEWS.am that the decision is in harmony with
the trends on the financial market and, without threatening the price
stability, contributes to economic revival.
The world economy continued showing signs of improvement accompanied by
a gradual rise in the prices for raw materials and some other product
items. Under the circumstances, despite further downward trends in
the aggregate demand, domestic markets did not register any deflation.
The CBA reports that a deflation rate of 0.4% was registered this
August as compared with this July. As a result, an annual inflation
rate reached 3.5%.
This is the seventh reduction of the annual refinancing rate since
the CBA returned to a floating rate policy: the rte was first reduced
down to 7.5%. On May 12, the CBA reduced the annual refinancing rate
down to 7.25%, and on May 22, down to 6.25%.