Central Bank of Armenia keeps refinancing rate at 6%
YEREVAN, JANUARY 17, ARMENPRESS. The Board of the Central Bank of Armenia made a decision to keep the refinancing rate unchanged, setting it 6.0% during today’s session, the CBA told Armenpress.
The CB set Lombard Repo at 7.5%
1.0% inflation has been recorded in November, 2018, while the 12-month inflation amounted to 1.8% by the end of the month.
In the 4th quarter of 2018 he global economic growth trends are maintained under which the central banks of leading countries are gradually toughening the terms of the monetary-loan policy. At the same time, the inflationary environment of main goods has somehow weakened in the international markets.
The CB Board states that in the 4th quarter of 2018 a certain weakening of economic activity has been observed, mainly in connection with the decline of agricultural volumes and decreasing volumes of mining output. As a result, the economic activation index amounted to 5.7% in January-November 2018 against the same period of 2017, while the annual economic growth is estimated at 5%. Respectively, it is estimated that the ongoing fiscal policy continues having a restraining effect on the domestic demand.
The CB council also referred to the existing inflation risks, which are mainly decrease-oriented conditioned by both external and domestic factors. In case of the mentioned risks take place, the CBA will clarify the monetary-loan policy directions by ensuring the price stability.
Edited and translated byTigran Sirekanyan