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ARMENIA'S CENTRAL BANK CUTS REFINANCING RATE TO SEVEN PERCENT
CISTran Finance
June 26 2014
June 26, 2014 7:30 AM
By Lisa Barron
The Central Bank of Armenia lowered its key refinancing rate to seven
percent, down 0.25 percentage points, on Tuesday.
The central bank reported deflation of 0.8 percent in May, bringing
the 12-month inflation rate at the end of the month to 3.6 percent. It
said the inflationary environment will continue to weaken in the next
months as the impact of higher energy tariffs that came into effect
last July is eliminated, ARKA reports.
The bank also said that growth in the first half of this year is
within its projected range, with higher-than expected expansion in
the agriculture and service sectors making up for weak performance
in the industrial and construction sectors.
"In this situation, the Central Bank considers it expedient to continue
easing of monetary conditions by lowering the refinancing rate,"
the central bank said, according to ARKA.
The bank last lowered its refinancing rate by 0.25 percentage points
on May 13.
http://cistranfinance.com/news/armenias-central-bank-cuts-refinancing-rate-to-seven-percent/3680/
CISTran Finance
June 26 2014
June 26, 2014 7:30 AM
By Lisa Barron
The Central Bank of Armenia lowered its key refinancing rate to seven
percent, down 0.25 percentage points, on Tuesday.
The central bank reported deflation of 0.8 percent in May, bringing
the 12-month inflation rate at the end of the month to 3.6 percent. It
said the inflationary environment will continue to weaken in the next
months as the impact of higher energy tariffs that came into effect
last July is eliminated, ARKA reports.
The bank also said that growth in the first half of this year is
within its projected range, with higher-than expected expansion in
the agriculture and service sectors making up for weak performance
in the industrial and construction sectors.
"In this situation, the Central Bank considers it expedient to continue
easing of monetary conditions by lowering the refinancing rate,"
the central bank said, according to ARKA.
The bank last lowered its refinancing rate by 0.25 percentage points
on May 13.
http://cistranfinance.com/news/armenias-central-bank-cuts-refinancing-rate-to-seven-percent/3680/