CBA doesn’t rule out further toughening of monetary policyMarch 12, 2011 - 14:41 AMT PanARMENIAN.Net - The Central Bank of Armenia possesses two tools to tackle inflation: toughening of credit and monetary policy and raising of refinancing rate. According to Arthur Stepanyan, head of the CBA credit and monetary department, said that inflation rate increased in many Eastern European and CIS states, where the above mentioned tools were applied. He did not rule out further toughening of monetary policy but said there are no calculations regarding possible raising of refinancing rate yet. 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%. 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. |