Wednesday, April 13, 2011

Armenia Central Bank Lifts Refinancing Rate 25bps to 8.50%

The Central Bank of Armenia raised the refinancing rate by 25 basis points to 8.50% from 8.25% previously. The move is a reaction to higher inflation, which was last reported as 11.5% in March, driven by increasing food prices, according to the National Statistical Service. The inflation rate is double the official government and central bank inflation target of 5.5%. The Armenian economy is projected to grow by 4.6% this year.


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