Armenia’s Central Bank lowers refinancing rate to 7.75%

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YEREVAN, July 30. /ARKA/. The Central Bank of Armenia decided to lower the refinancing rate by 0.25%, setting it at 7.75%, the regulator's press service reported on Tuesday./pp

Additionally, the Central Bank lowered the lombard repo rate to 9.25% and the deposit rate to 6.25%./pp

This marks the tenth consecutive reduction in the refinancing rate since June last year and the fifth since the beginning of this year. On June 13, 2023, the Central Bank set the rate at 10.5%, reducing it by 0.25%. The rate was further reduced on August 1 to 10.25%, on September 12 to 9.75%, on October 31 to 9.5%, on December 12 to 9.25%, on January 30, 2024, to 8.75%, on March 12 to 8.5%, on April 30 to 8.25%, and on June 11 to 8%./p br br