Armenian commercial banks make certain reduction in deposit interest rates

 16:30,

YEREVAN, SEPTEMBER 15, ARMENPRESS. Armenia’s Central Bank has information that some commercial banks have already started reducing the interest rates of deposits. In other words, new deposits are attracted at lower interest rates, CBA President Martin Galstyan told reporters today.

“As for the possible influence of the reduction of refinancing rate on the loans, it’s difficult to make any notifications, because, in fact, uncertainty still remains in the economy. In terms of restraining the risks banks can carry out various policies”, he said.

During today’s session the Board of the Central Bank of Armenia decided to reduce the refinancing rate by 0.25%, setting it at 4.25%.

Editing and Translating by Aneta Harutyunyan

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