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 | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |