Armenian Central Bank cuts refinancing rate once again

The board of the Armenian Central Bank has decided to reduce the refinancing rate by 25 basis points to 7.25% per annum, the bank said.

A rate of 7.5% per annum was in effect from September 10, when it was cut 25 basis points.

This is the seventh time the rate has been cut since the start of the year. The bank reduced the rate five times last year.

According to the country's statistics committee, annual inflation stood at 1.3% in August. The target level for inflation in 2024 is 4% plus-minus 1.5%.