CB reduces refinancing rate

YEREVAN, FEBRUARY 11, ARMENPRESS: The council of the Central Bank of the Republic of Armenia adopted a decision to reduce the refinancing rate by 0,25%, making it 7,5%. The Department for Public Relations of the Central Bank of the Republic of Armenia informed Armenpress about it.

According to the source, in January 2014 inflation of 2,8% was registered, in case of which the 12-month inflation made 5,5% in the end of January, coinciding with the upper limit of the allowable range of its fluctuations. During the last months the inflation has declined more rapidly than expected, conditioned by low economic activity and reduction of the international prices for the basic food products. The council expressed an opinion that during the forthcoming months the 12-month inflation will continue declining and particularly in the third quarter it will be close to the lower limit of the target range of acceptable variation index, conditioned by the eliminating of the impact of increasing energy prices in July 2013.