Central Bank of Armenia has decreased the official bank rate for the sixth time this year
The Central bank of Armenia has made a decision to decrease the official bank rate by 0.25 percent to 5.25 percent. It’s happened on August, 11 at the council meeting of the Central Bank.
In July, 2009 we have seen in Armenia a deflation at the rate of 2.7 percent as against of June, so the inflation rate of 12 months has reached 3.1 percent, remaining on the bottom within the target interval.
Since March, 3, 2009, it has been the sixth decrease of the official bank rate, when declaring its return to a policy of a floating rate, the Central Bank raised the rate by 1 percent, and so established it at the level of 7.75 percent.
Later since April, 7, the official bank rate has been decreased to 7.5 percent, since May, 12 – to 7.25 percent. On May, 22, a decrease was rather considerable – by 1 percent, to 6.25 percent. On June, 9, the official bank rate was decreased by 0.25 percent to 6 percent, and on July, 7, – by 0,5 to 5.5 percent.