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CBA BOARD REDUCES REFINANCING RATE BY 0.25 PERCENTAGE POINTS TO 5%
NOYAN TAPAN
SEPTEMBER 9, 2009
YEREVAN
YEREVAN, SEPTEMBER 9, NOYAN TAPAN. At the September 8 sitting, the
Board of the Central Bank of Armenia (CBA) made a decision to reduce
the refinancing rate by 0.25 percentage points to 5%. According to
the CBA PR Service, a deflation of 0.4% was recorded in August on July
2009, as a result of which the 12-month inflation amounted to 3.5%. The
CBA Board said that there have been signs of some improvement in the
global economy, combined with a gradual rise in international prices
of raw materials and some foodstuffs.
Under these conditions, despite the continuous trends to a decine in
gross demand, there have been no inflationary pressures in domestic
markets.
Taking into account the continuing trends towards GDP decline
and the opinions about remaining inflation in the target period,
the CBA Board considers it expedient to reduce the interest rates,
which is in line with the current trends in financial markets and
contributes to activation of the economy, while not posing a danger
to price stability.
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From: [email protected]
Subject: CBA Board reduces refinancing rate by 0.25 percentage points to 5%
CBA Board reduces refinancing rate by 0.25 percentage points to 5%
YEREVAN, SEPTEMBER 9, NOYAN TAPAN. At the September 8 sitting, the
Board of the Central Bank of Armenia (CBA) made a decision to reduce
the refinancing rate by 0.25 percentage points to 5%. According to the
CBA PR Service, a deflation of 0.4% was recorded in August on July
2009, as a result of which the 12-month inflation amounted to 3.5%. The
CBA Board said that there have been signs of some improvement in the
global economy, combined with a gradual rise in international prices of
raw materials and some foodstuffs. Under these conditions, despite the
continuous trends to a decine in gross demand, there have been no
inflationary pressures in domestic markets. Taking into account the
continuing trends towards GDP decline and the opinions about remaining
inflation in the target period, the CBA Board considers it expedient to
reduce the interest rates, which is in line with the current trends in
financial markets and contributes to activation of the economy, while
not posing a danger to price stability.
NOYAN TAPAN
SEPTEMBER 9, 2009
YEREVAN
YEREVAN, SEPTEMBER 9, NOYAN TAPAN. At the September 8 sitting, the
Board of the Central Bank of Armenia (CBA) made a decision to reduce
the refinancing rate by 0.25 percentage points to 5%. According to
the CBA PR Service, a deflation of 0.4% was recorded in August on July
2009, as a result of which the 12-month inflation amounted to 3.5%. The
CBA Board said that there have been signs of some improvement in the
global economy, combined with a gradual rise in international prices
of raw materials and some foodstuffs.
Under these conditions, despite the continuous trends to a decine in
gross demand, there have been no inflationary pressures in domestic
markets.
Taking into account the continuing trends towards GDP decline
and the opinions about remaining inflation in the target period,
the CBA Board considers it expedient to reduce the interest rates,
which is in line with the current trends in financial markets and
contributes to activation of the economy, while not posing a danger
to price stability.
Content-Type: MESSAGE/RFC822; CHARSET=US-ASCII
Content-Description:
Content-Transfer-Encoding: 7bit
MIME-Version: 1.0
Content-Type: text/plain; charset="us-ascii"; format=flowed
From: [email protected]
Subject: CBA Board reduces refinancing rate by 0.25 percentage points to 5%
CBA Board reduces refinancing rate by 0.25 percentage points to 5%
YEREVAN, SEPTEMBER 9, NOYAN TAPAN. At the September 8 sitting, the
Board of the Central Bank of Armenia (CBA) made a decision to reduce
the refinancing rate by 0.25 percentage points to 5%. According to the
CBA PR Service, a deflation of 0.4% was recorded in August on July
2009, as a result of which the 12-month inflation amounted to 3.5%. The
CBA Board said that there have been signs of some improvement in the
global economy, combined with a gradual rise in international prices of
raw materials and some foodstuffs. Under these conditions, despite the
continuous trends to a decine in gross demand, there have been no
inflationary pressures in domestic markets. Taking into account the
continuing trends towards GDP decline and the opinions about remaining
inflation in the target period, the CBA Board considers it expedient to
reduce the interest rates, which is in line with the current trends in
financial markets and contributes to activation of the economy, while
not posing a danger to price stability.