Central Bank of Armenia keeps refinancing rate unchanged

PanARMENIAN.Net - At the June 8 session, the Central Bank board resolved to keep the current refinancing rate unchanged, the RA CB press service reported.

1% inflation rate was recorded in May 2010, as a result of which the annual inflation index decreased by 0.5% as compared with the same index in April, totaling 6.3%.

The Board believes that though the inflation environment persists, the inflation rate will decrease soon with respect to drop in international prices for raw materials and foodstuffs, as well as the current behavior of the AMD exchange rate.

The Board also noted that debt problems of several European countries have significantly contributed to the uncertainty in international prices for raw materials and foodstuffs. Besides, prices for seasonal agricultural products are still unclear.

Thus, the Board believes that it is expedient to refrain from changing the credit-monetary conditions.