  CBA increases refinancing rate to 8.25% March 4, 2011 - 18:53 AMT PanARMENIAN.Net - During the March 4 sitting, the Board of the Central Bank of Armenia (CBA) increased the refinancing rate by 0.5% to bring it to 8.25%. The Board is concerned over the expansion of the inflation environment that is conditioned by the current developments at global food and raw materials markets, as well as maintained high prices as a result of reduction in supply of agricultural products in 2010, the CBA press service reported. The Board believes that gradual toughening of the monetary policy and assistance of other state structures will allow bringing the inflation rate to the target corridor in the first half of 2011.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Turkey extends military presence in Azerbaijan  The Turkish parliament has adopted a bill submitted by Recep Tayyip Erdogan to extend the mandate of Turkish troops.Russia to begin assessing migrant workers' speaking skills Rosobrnadzor is planning to change the Russian language exam for migrant workers and include an assessment of speaking skillsArmenian, Saudi Foreign Minister meet in Riyadh The two commended the positive dynamics of the development of political dialogue between Armenia and Saudi ArabiaPashinyan: Azerbaijan’s proximity shouldn’t worry border residents At the same time, he said that he “does not guarantee [the security of villagers] one hundred percent”. |
