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CENTRAL BANK OF ARMENIA LEAVES REFINANCING RATE UNCHANGED AT 8%
/ARKA/
DECEMBER 6, 2011
YEREVAN
YEREVAN, December 6. /ARKA/. The Central Bank of Armenia (CBA) Board
said today it has left its benchmark refinancing rate unchanged at 8%.
In a press release the CBA said inflation slowed in November as the
cost of food and other consumer goods eased. Consumer prices rose to
4.8 percent from a year earlier compared with 5.7 percent in October
Prices advanced 1.2 percent from the previous month.
The Board stated also the absence of external inflationary pressures
saying the anticipated global economic slowdown will not have a
tangible impact on food and raw commodities prices. It said this was
is in line with the basic forecasts about global economic trends as
spelled out in the Central Bank's money and credit policy for the
4th quarter of 2011.
The Central Bank said it does not expect inflation risks to stem
from domestic economy and believes that the recorded and anticipated
developments at labor market and aggregate demand will have not a
significant impact on the inflationary environment.
The Central Bank believes that Armenia's economy is developing in
line with anticipated trends fixed in the monetary policy program
for 2011 and the 12-month inflation rate is likely to be within the
projected 4% (± 1.5%) corridor. The last time the Central Bank changed
the refinancing rate was on September 6, 2011, when it reduced it
from 8.5% to 8%.
/ARKA/
DECEMBER 6, 2011
YEREVAN
YEREVAN, December 6. /ARKA/. The Central Bank of Armenia (CBA) Board
said today it has left its benchmark refinancing rate unchanged at 8%.
In a press release the CBA said inflation slowed in November as the
cost of food and other consumer goods eased. Consumer prices rose to
4.8 percent from a year earlier compared with 5.7 percent in October
Prices advanced 1.2 percent from the previous month.
The Board stated also the absence of external inflationary pressures
saying the anticipated global economic slowdown will not have a
tangible impact on food and raw commodities prices. It said this was
is in line with the basic forecasts about global economic trends as
spelled out in the Central Bank's money and credit policy for the
4th quarter of 2011.
The Central Bank said it does not expect inflation risks to stem
from domestic economy and believes that the recorded and anticipated
developments at labor market and aggregate demand will have not a
significant impact on the inflationary environment.
The Central Bank believes that Armenia's economy is developing in
line with anticipated trends fixed in the monetary policy program
for 2011 and the 12-month inflation rate is likely to be within the
projected 4% (± 1.5%) corridor. The last time the Central Bank changed
the refinancing rate was on September 6, 2011, when it reduced it
from 8.5% to 8%.