Central Bank of Armenia Council took a decision to retain 8% refinancing rateat December 6 meeting.

1.2% inflation was recorded in November 2011 compared with October, as a result of which 12-month inflation rate totaled 4,8%, decreasing against last year’s 0,9%.

The Council noted that Armenian economy is developing in accordance with expected tendencies stipulated by 2011 monetary policy program, envisaging 4% (± 1,5%) fluctuation for 12-month inflation rate.

In this context, CB Council considers it appropriate to follow the directions of neutral monetary policy in fourth quarter 2011, CBA press service reported.