Armenia’s C.Bank Cuts Refinancing Rate To 7.75 Pct From 8 Pct

ARMENIA’S C.BANK CUTS REFINANCING RATE TO 7.75 PCT FROM 8 PCT

Reuters
Dec 24 2013

YEREVAN Tue Dec 24, 2013 8:26am EST

YEREVAN Dec 24 (Reuters) – Armenia’s central bank cut its key
refinancing rate to 7.75 percent from 8 percent on Tuesday after data
showed a decline in inflation.

Annual inflation came at 6.6 percent in November, the central bank
said, down from 7.1 percent recorded in October. That is still higher
than the government’s target range of between 2.5 percent and 5.5
percent for the whole year.

Monthly inflation in November was 0.9 percent, compared to inflation
of 0.3 percent in October.

The central bank cut refinancing rate to 8 percent in October.

(Reporting by Hasmik Lazarian; Writing by Margarita Antidze)