ARMENIA’S CB RETAINS RATE OF REFINANCING UNCHANGED – AT LEVEL OF 4.5%
ARKA News Agency, Armenia
June 5 2007
YEREVAN. June 4. /ARKA/. The Central Bank of Armenia (CBA) retained
the refinancing rate unchanged – at the level of 4.5% annually. The
CBA press service reported that the decision was made during the
session of the CBA Board held on June 4, 2007.
Taking into account the present developments of the macroeconomic
environment as well as the factors of the foreign environment, the
CBA Board thinks that the inflation will be within the directional
level by the end of 2007 and in the first quarter of 2008.
As of April-May 2007, the development in the macroeconomics was
mostly accordant to the forecasts on the second quarter, and the
foreign pressures on the inflation are rather moderate as compared
to the previous year, despite the high price for oil product in the
world. At that, the trends of development of the composite demand
testify to the absence of extra pressures on the inflation due to
the internal sources.
The CBA Board does not exclude the further reconsideration of interest
rates in case of changing prospects of the economic development.
In May 2007 (as compared to April), 2.1% inflation is recorded in
Armenia, as a result of which the annual inflation (as compared with
May 2006) made 3.8%.
According to the state budget, the inflation in Armenia till the end
of the year is planned at the level of 4% (±1,5%).
–Boundary_(ID_fKZ9SqIBtfIFLPv7Q+1F jQ)–
From: Emil Lazarian | Ararat NewsPress
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