Refinancing rate decreased by 0.5 percentage points

YEREVAN, NOVEMBER 12, ARMENPRESS. The Council of the Central Bank of Armenia decided to decrease the refinancing rate by 0.5 percentage points making it 8.0%. The Council of the Central Bank of Armenia has made this decision at the course of the session held on November 12. The Public Relations Department of the Central Bank of the Republic of Armenia informed “Artmenpress” that a rise in prices of 0.3% was registered in October 2013 in comparison with the 1.2% inflation in the same period of the previous year, thus the 12-month inflation continued to drop, making it 7.1% at the end of October.

The decreasing trends of the inflation are mainly connected with the restriction of the money-and-credit conditions and the slow tempos of economic growth, which are lower, than it had been considered to be. Among other things the council noted that the decrease of the 12-month inflation will be continued at the course of the upcoming months as well, thus certifying about the anchored expectations regarding the inflation.

Among other things the Council noted that the external sector remained within the scope of the predictions. The trends of slow restoration of the tempo of the global economic growth remained.