Armenian Central Bank cuts key refinancing rate

Armenia's Central Bank said it had decided to cut its refinancing rate to 6.75% from 7.25%.

Annual deflation in the South Caucasus country was at 1.9% in August, compared to 1.3% deflation in July, according to central bank data. Monthly deflation in August was 0.5%, compared to 2.35 deflation in July.

The government forecasts annual inflation in a 2.5-5.5 percent range in 2016, the same as last year's target, Reuters reports.