 Central bank cuts refinancing rate in Armenia to 5.0% April 28, 2020 - 18:56 AMT PanARMENIAN.Net - The Armenian Central Bank on Tuesday, April 28 cut its key refinancing rate by 0,25% to 5.50%. In March, the country's consumer price index rose by 0.5% month-on-month, but was down by 0.1% year-on-year, the bank said. The central bank will hold its next meeting on rates on October 29. The Central Bank also said that economic activity will continue shrinking in the second quarter too. Economic activity in Armenia shrank by 4.9% in March year-on-year, data from the National Statistical Service reveals, as a result of a lockdown imposed in mid-March in a bid to curb the Covid-19 outbreak.   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 Biden honors resilience of Armenian people on April 24  U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide.Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan.Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says.Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. |
