The Central Bank of Armenia decided on Friday to keep its refinance rate at 7.25%, News Armenia reports, citing the press-service of the bank.
In September 2010 the deflation rate was 0.2%, compared with August. This means that the inflation rate this year will be 8.6%, dropping by 1 point, compared with the previous month.
The Central Bank noted that the conditions in the food and agricultural spheres led to higher inflation. But harder credit conditions since the start of this year and currency market development weakened inflation.
The refinance rate in 2010 was adjusted 5 times, from 5.0% to 7.25%.
