Armenia - Tasa de Interés

The Central Bank of Armenia left its key refinancing rate steady at 5.50 percent on October 29th 2019, saying inflation is expected to remain below the target in the coming months and then gradually return to the target in the medium-term period. The Bank also noted that the external sector has maintained the tendencies of growth while Armenia’s economic activity also remained at the projected high level.

The Central Bank of Armenia lowered its key refinancing rate by 25bps to 5.50 percent on September 10th 2019. The central bank's decision aims to bring inflation closer to its medium term target while expectations regarding the outside deflationary environment and the progress of fiscal policy have been taken in account. Annual inflation rate in Armenia eased to 0.6 percent in August of 2019, the lowest since March of 2017, from 1.7 percent in the previous month. The board also noted than in the third quarter, economic activity in Armenia remains high.

The Central Bank of Armenia left its key refinancing rate steady at 5.75 percent on July 30th 2019, saying inflation is expected to remain below the target in the coming months and then to stabilize in the mid-term period. Armenia's consumer price index declined 1.9 percent month-over-month in June while it increased 2.5 percent year-on-year, easing from a 2.8 percent rise in the previous month. The Board also added that high growth rates of economic activity are expected in the second quarter of the year, amid an increase in private consumption. However, the central bank noted that a stimulus will be needed and will soon pursue a policy of easing monetary conditions.

The Central Bank of Armenia left its key refinancing rate steady at 5.75 percent on June 11th 2019, saying inflation is expected to remain below its 4 percent target in coming months and then to stabilize around that level in the mid-term period. Armenia's consumer price index declined 0.4 percent in May month-on-month but rose 2.8 percent year-on-year, the highest since October last year due to the seasonal increase in prices for some agricultural products.

The Central Bank of Armenia left its key refinancing rate steady at 5.75 percent on April 30th 2019, mentioning low inflationary pressures and global economic slowdown. Armenia´s consumer prices rose 0.1 percent month-on-month in March while the 12-month inflation remained unchanged at 1.9 percent in line with the CB predictions of stable inflation. The bank also noted that global demand is likely to remain weak and that inflationary pressures from the external sector are not expected in the upcoming months.

The Central Bank of Armenia left its key refinancing rate steady at 5.75 percent on March 12th 2019, mentioning low inflationary pressures and global economic slowdown. Policymakers kept monetary policy stance steady after lowering borrowing costs by 25bps to is lowest since at least 2010 in the previous meeting. In February, annual inflation rate rose to a four-month high of 1.9 percent, up from a 0.8 percent increase in January. The central bank projects inflation to be lower than the target level of 4 percent in the upcoming months.