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ARMENIA'S NATURAL GAS AND ELECTRICITY PRICE HIKES WILL CREATE ADDITIONAL 2.5% INFLATION - CENTRAL BANK
June 10, 2013 | 13:07
YEREVAN. - The increase in the prices of natural gas and electricity
and the recent hailstorm will create an additional 2-2.5-percent
inflation in Armenia.
Central Bank (CBA) Chairman Arthur Javadyan noted the aforesaid during
Monday's National Assembly discussions.
In his words, they opt for a tough monetary policy under these
conditions, but it is still too early to say whether the refinancing
interest rate will increase.
As per Javadyan, the main challenge of the CPA is the maintenance
of price stability; but if this conflicts with other challenges,
they need to choose the main challenge.
The CBA head added that they are not pursuing a policy of a strong
Armenian national currency (dram), and they intervene in the exchange
rates solely in the case of sharp fluctuations.
To note, pursuant to Armenia's Law on State Budget, the allowable level
of inflation in the country is in the 4+-1.5-percent range. As of May
2013, the twelve-month inflation constituted 5.2 percent in Armenia.
News from Armenia - NEWS.am
June 10, 2013 | 13:07
YEREVAN. - The increase in the prices of natural gas and electricity
and the recent hailstorm will create an additional 2-2.5-percent
inflation in Armenia.
Central Bank (CBA) Chairman Arthur Javadyan noted the aforesaid during
Monday's National Assembly discussions.
In his words, they opt for a tough monetary policy under these
conditions, but it is still too early to say whether the refinancing
interest rate will increase.
As per Javadyan, the main challenge of the CPA is the maintenance
of price stability; but if this conflicts with other challenges,
they need to choose the main challenge.
The CBA head added that they are not pursuing a policy of a strong
Armenian national currency (dram), and they intervene in the exchange
rates solely in the case of sharp fluctuations.
To note, pursuant to Armenia's Law on State Budget, the allowable level
of inflation in the country is in the 4+-1.5-percent range. As of May
2013, the twelve-month inflation constituted 5.2 percent in Armenia.
News from Armenia - NEWS.am