Armenian central bank cuts refinancing rate to 6.25 percent
YEREVAN, December 27. /ARKA/. Armenia's Central Bank said today it had cut its refinancing rate to 6.25 percent from 6.5 percent.
According to the regulator, the annual deflation in Armenia was at 0.6 percent in November, down from 0.9 percent deflation reported in October. On a monthly basis, the inflation rate stood at 1 percent in November, up from 0.5 percent in October.
It is the eighth consecutive cut of the benchmark rate by the regulator within this year. In February, the rate was reduced from 8.75% to 8.5%, in March - to 8.25%, in May - to 7.75%, in June –to 7.5%, in August – to 7 25%, in September - to 6.75% and in November to 6.5%. -0-
According to the regulator, the annual deflation in Armenia was at 0.6 percent in November, down from 0.9 percent deflation reported in October. On a monthly basis, the inflation rate stood at 1 percent in November, up from 0.5 percent in October.
It is the eighth consecutive cut of the benchmark rate by the regulator within this year. In February, the rate was reduced from 8.75% to 8.5%, in March - to 8.25%, in May - to 7.75%, in June –to 7.5%, in August – to 7 25%, in September - to 6.75% and in November to 6.5%. -0-