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ARMENIAN REGULATOR RAISES REFINANCING RATE ONE POINT TO 10.5%
YEREVAN, February 10. /ARKA/. The board of the Central Bank of Armenia
raised Tuesday the refinancing rate by one percentage points to 10.5%,
the regulator's press office reports.
According to the press release, at its session the board also placed
it in record that inflation stood at 2.5% in January 2015, and 12-month
inflation reached 4.3% in late January coming close the projected rate.
The board predicted that 12-month inflation would go up in the next
months, compared with the previous year's low general indicator,
but after that it will return to the targeted rate.
It also said that certain speedup was seen in the U.S. economy in 2015
along with outlooks for increase in interest rates that contributed
to the U.S. dollar's revaluation and price falls at the world's food
and raw materials markets.
This drove investment risks in developing countries up, which, in
turn, enhanced volatility at developing countries' forex markets,
increased interest rates and slowed down economic growth.
The board says the consequences of these developments and geopolitical
things that affected Armenia's financial and trade markets by the
end of 2014 will gradually smooth over.
the press release says.
The central bank's board also says that the mentioned measures will
narrow the difference between the regulator's policy and short-term
market rates, which will create favorable environment for stabilization
at financial market and will ensure achievement of the projected
inflation rate over the medium term.
The central bank's previous refinancing rate change was on January 22,
2014. The regulator then raise it from 8.5% to 9.5%. ---0-----
http://arka.am/en/news/economy/armenian_regulator_raises_refinancing_rate_one_poi nt_to_10_5_/#sthash.CrldODQx.dpuf
YEREVAN, February 10. /ARKA/. The board of the Central Bank of Armenia
raised Tuesday the refinancing rate by one percentage points to 10.5%,
the regulator's press office reports.
According to the press release, at its session the board also placed
it in record that inflation stood at 2.5% in January 2015, and 12-month
inflation reached 4.3% in late January coming close the projected rate.
The board predicted that 12-month inflation would go up in the next
months, compared with the previous year's low general indicator,
but after that it will return to the targeted rate.
It also said that certain speedup was seen in the U.S. economy in 2015
along with outlooks for increase in interest rates that contributed
to the U.S. dollar's revaluation and price falls at the world's food
and raw materials markets.
This drove investment risks in developing countries up, which, in
turn, enhanced volatility at developing countries' forex markets,
increased interest rates and slowed down economic growth.
The board says the consequences of these developments and geopolitical
things that affected Armenia's financial and trade markets by the
end of 2014 will gradually smooth over.
the press release says.
The central bank's board also says that the mentioned measures will
narrow the difference between the regulator's policy and short-term
market rates, which will create favorable environment for stabilization
at financial market and will ensure achievement of the projected
inflation rate over the medium term.
The central bank's previous refinancing rate change was on January 22,
2014. The regulator then raise it from 8.5% to 9.5%. ---0-----
http://arka.am/en/news/economy/armenian_regulator_raises_refinancing_rate_one_poi nt_to_10_5_/#sthash.CrldODQx.dpuf