Armenian Central Bank maintains refinancing rate at 7.25%

The Central Bank of Armenia has decided to preserve the refinancing
rate at 7.25%, News Armenia reports, citing the bank’s press-service.
The source said that inflation in May was 1%, 0.5 points less than in
April, with annual inflation at 6.3%.

The bank said that the level of inflation is inked with the extended
cash-credit and tax-budget policy. The inflation rate will slow down
due to the falling prices for raw materials and food products.

The bank’s management said that debts of other EU countries will
influence the prices for raw materials and food. The bank decided to
avoid any changes in the cash-credit conditions.

The refinancing rate in 2010 was increase from 5.0 to 7.25% (in
January 21st, February 16th, March 9th, April 13th and May 11th)