The Armenian Central Bank has decided to keep its refinancing rate
unchanged at 7,25%, News Armenia reports, quoting the press service of
the Armenian Central Bank.
October inflation in Armenia was 1% compared to September figures,
resulting in a 12-month inflation rate amounting to 9.1% and
increasing by 0.5 percentage points compared to the same figure the
previous month.
The Central Bank notes that the continuous high level of 12-month
inflation has been caused by supply shocks, such as an increase in
prices for bakery products, fruits and vegetables that have generally
contributed to a 12-month inflation ending in a rate of 4.4 percentage
points.
During 2010, the refinancing rate increased fivefold, from 5.0% to 7.25%.
