Refinancing interest rate in Armenia is an indicator of the proper liquidity level, Ararat Ghukasyan, chairman of the Union of Banks of Armenia told a PanARMENIAN.Net reporter. "And this step, as the Central Bank has already stated, was aimed at reducing inflationary pressures and, of course, indicates to the proper liquidity level. In my opinion, rise in refinancing interest rate reflects the current situation,” he said.
As for the CBA policy’s consistency, according to Ararat Ghukasyan, "the Central Bank is faithful to its policy: it is always reviewing the interest rate: increasing or reducing it".
The CBA Board at its meeting on January 21 2010 decided to raise the refinancing interest rate to 0.5 percentage points, setting it at 5.5 per cent.
