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 | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |