Central Bank of Armenia reduced the refinancing interest rate by 0.50 percentage points, and fixed it at the level of 5.50 per cent, press office of the Central Bank of Armenia reports.
0.3 per cent of inflation was recorded in June of 2009 compared to May in Armenia and the inflation over 12-month period reached a 3.6 per cent, remaining around 1 per cent lower of the projected level.
The Board of the Central Bank noted that current inflationary development, mainly in line with forecasted. The Board sticks to the view that, in order to stimulate lending activities and economic recovery in the context of current developments it is appropriate to continue the policy of reducing the interest rates.
