Armenian Central Bank cuts key refinancing rate to 6.75%

Emil Lazarian News

The Armenian Central Bank said on Tuesday it had decided to cut its refinancing rate to 6.75 percent from 7.25 percent.

Annual deflation in the South Caucasus country was at 1.9 percent in August, compared to 1.3 percent deflation in July, according to central bank data. Monthly deflation in August was 0.5 percent, compared to 2.3 percent deflation in July.

The government forecasts annual inflation in a 2.5-5.5 percent range in 2016, the same as last year’s target.

Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS