Armenian Central Bank keeps interest rate unchanged

The Central Bank of Armenia has decided to keep the base interest rate at 7.25%, News Armenia reports, citing the bank’s press-service.

The board of the Central Bank believes that gradual restoration of gross demand and price changes for seasonal agricultural goods in 2010 combine to form inflationary pressure. European currency exchange rates and international commodity prices remain uncertain.

In 2010 the base interest rate rose 5 times, from 5% to 7.25% (on January 21st, February 16th, March 9th, April 13th and May 11th).