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CENTRAL BANK OF ARMENIA LEAVES REFINANCING RATE UNCHANGED AT 5%
ARKA
Nov 11, 2009
YEREVAN, November 11, /ARKA/. The Central Bank of Armenia (CBA) decided
Tuesday to leave unchanged its refinancing rate at 5%, the CBA's press
office said to ARKA. The press office said inflation rate grew by 0.5%
in October against September. As a result the annual inflation rate
rose to 3.5%.
A statement by the Central Bank said inflation behavior and processes
in macroeconomic environment were in tune with its earlier forecasts.
Moderate external inflationary pressures continued throughout the
period caused by the growing trend of world prices for mining and
some food products.
On September 8, 2009 the Central Bank of Armenia lowered the
refinancing rate by 0.25 percentage points to 5%. It was the seventh
consecutive lowering of the refinancing rate since March 3 when the
Central Bank reversed to the floating exchange rate of the national
currency Dram against hard currencies raising also the refinancing
rate by one percentage point to 7.75%.
ARKA
Nov 11, 2009
YEREVAN, November 11, /ARKA/. The Central Bank of Armenia (CBA) decided
Tuesday to leave unchanged its refinancing rate at 5%, the CBA's press
office said to ARKA. The press office said inflation rate grew by 0.5%
in October against September. As a result the annual inflation rate
rose to 3.5%.
A statement by the Central Bank said inflation behavior and processes
in macroeconomic environment were in tune with its earlier forecasts.
Moderate external inflationary pressures continued throughout the
period caused by the growing trend of world prices for mining and
some food products.
On September 8, 2009 the Central Bank of Armenia lowered the
refinancing rate by 0.25 percentage points to 5%. It was the seventh
consecutive lowering of the refinancing rate since March 3 when the
Central Bank reversed to the floating exchange rate of the national
currency Dram against hard currencies raising also the refinancing
rate by one percentage point to 7.75%.