Central Bank of Armenia lowers refinancing rate to 8%November 12, 2013 - 18:40 AMT PanARMENIAN.Net - The Central Bank of Armenia (CBA) lowered the refinancing rate by 0,5 pct, to 8%. A 0,3% inflation was posted in October against 1,2% from the year earlier period. The 12-month inflation has dropped to total 7,1% in late October. Inflation decrease tendency is mainly prompted by the CBA’s toughening of money-and-credit terms and lower-than-planned economic growth rate. The CBA Council predicted progressive decrease in the 12-month inflation rate. Also, according to the Council, slower growth rate was triggered by a VAT drop in the construction sector, as well as high inflation environment formed over a hike in energy tariffs. 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 | Russia provides info about arrested Armenian ex-MP Russian law enforcement agencies have provided information about the arrest of Tigran Urikhanyan. Lemkin Institue slams Pashinyan's “cryptic engagement with Genocide denial” The Lemkin Institute is alarmed over Pashinyan’s statements “questioning Armenia's legal basis to pursue justice against Turkey”. 41 detained as antigovernment protests continue in Yerevan 41 people were detained in Yerevan as people demanding Pashinian’s resignation stage campaigns of civil disobedience. Armenia votes for UN resolution granting Palestine new rights The U.N. General Assembly voted by a wide margin on May 10 to grant new “rights and privileges” to Palestine. |