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ARMENIAN CB TO TOUGHEN MONETARY POLICY
news.am
Dec 7 2010
Armenia
At its December 7 sitting, the Board of the Central Bank of Armenia
(CBA) decided to leave the annual refinancing rate unchanged.
The CBA press service reports that 1.6% inflation was registered
this November as compared with this October, with annual inflation
reaching 9.6% (a 0.5% rise).
The CBA Board believes that the reason for the annual inflation is
still the rise in food in international and agricultural markets. By
the end of November, the share of the rise in prices for fruit,
vegetables, meat, dairy and baked products in the annual inflation
has constituted 6.7%.
The CBA Board forecasts a stronger influence of inflation and
inflationary expectations, which may soon play a crucial role in
forming information environment.
The CBA Board members pointed out that the ongoing processes in
the Armenian economy are not the cause of inflationary pressures,
as demand slowly recovers.
The CBA Board pointed out the reducing probability of inflation
remaining within the target during the period.
Considering the impact the monetary policy has on gross demand, with
aggravating supply factors and secondary influence, the CB Board
believes monetary terms are likely to be toughened.
From: A. Papazian
news.am
Dec 7 2010
Armenia
At its December 7 sitting, the Board of the Central Bank of Armenia
(CBA) decided to leave the annual refinancing rate unchanged.
The CBA press service reports that 1.6% inflation was registered
this November as compared with this October, with annual inflation
reaching 9.6% (a 0.5% rise).
The CBA Board believes that the reason for the annual inflation is
still the rise in food in international and agricultural markets. By
the end of November, the share of the rise in prices for fruit,
vegetables, meat, dairy and baked products in the annual inflation
has constituted 6.7%.
The CBA Board forecasts a stronger influence of inflation and
inflationary expectations, which may soon play a crucial role in
forming information environment.
The CBA Board members pointed out that the ongoing processes in
the Armenian economy are not the cause of inflationary pressures,
as demand slowly recovers.
The CBA Board pointed out the reducing probability of inflation
remaining within the target during the period.
Considering the impact the monetary policy has on gross demand, with
aggravating supply factors and secondary influence, the CB Board
believes monetary terms are likely to be toughened.
From: A. Papazian