Quarterly review (first quarter, 2012)
2012-05-24 16:45
Financial System of the Republic of Armenia in Q1, 2012
Banks functioning in the Republic of Armenia
As of 31.03.2012, there were 21 commercial banks with a total of 444 branch offices, functioning in the territory of the Republic of Armenia. In the period under review the banking sector has been active enough in the lending market.
Total capital of commercial banks
In the first quarter of 2011 total capital of commercial banks grew by 2.0 percent (by AMD 7.0 billion) and amounted...
(2012/2) Status report on Implementation of the Monetary Policy Program Q2, 2012. Inflation report
2012-05-15 14:03
Executive summary
The monetary policy programs of 2011 predicted that the inflation environment would further ease and inflation would rest within the confidence band, starting from the fourth quarter of 2011. Actual trends were basically in line with the program - the 12-month inflation reached 4.7 percent at the end of 2011 and 2.2 percent at the end of March of 2012.
In the forecast horizon the developments in both external sector and domestic economy do not predict expanding of the...
The Board of the CBA left the refinancing rate unchanged 8 percent
2012-05-08 11:37
Interest rate unchanged, 8 percent
In the May 8th of 2012 Meeting the Board of CBA decided to leave the Refinancing Rate of CBA unchanged, at 8 percent.
There was 1.3 percent deflation recorded in May of 2012, and the 12-month inflation amounted to 0.5 percent, which is somewhat below the confidence band.
The Board admitted that further uncertainties over political solutions to debt problems in Eurozone has led to an abrupt U.S. dollar appreciation versus currencies of Armenia’s main...
The Financial System of Armenia. Development, Supervision, Regulation 2011
2012-05-04 11:05
Introduction
In 2011 the world economy almost overcame crisis influence, while the financial systems were still sensitive. Nevertheless, in 2011 Armenian domestic economy gradually recovered to pre-crisis state. Parallel to post-crisis recovery of domestic economy the financial system responded accordingly. Armenian financial system, which overcame challenges with ease during the peak of the crisis, continued strong development in 2011. One of the most important achievements of the year was...
Statistical overview (March. 2012)
2012-05-03 11:57
Statistical overview
The “CBA Bulletin” monthly of the Central Bank of Armenia has a section Monetary Overview which contains information on monetary, external, fiscal and real sectors, and data on payment and settlement system and the main financial system ratios.
The source of information on real sector (excluding core inflation) and external trade is the National Statistics Service of Armenia (http://www.armstat.am). The source of information on fiscal, external sectors...
Annual report 2011
2012-04-20 17:49
Chairman's message
Dear Reader,
This is the Annual Report for the year 2011. It contains information on the reforms and our achievements which we had during the year as well as description of what we will need to do in 2012.
The year 2011 was prominent with high inflationary environment which was determined by abrupt international price increases of basic commodities and food products on the one hand and reported decline in agriculture in Armenia on the other. On the whole for the year,...
The Board of the CBA left the refinancing rate unchanged 8 percent
2012-04-10 11:34
Interest rate unchanged, 8 percent
In the April 10th of 2012 Meeting the Board of CBA decided to leave the Refinancing Rate of CBA unchanged, at 8 percent.
There was 0.1 percent inflation recorded in March of 2012, and the 12-month inflation decreased against the previous month’s indicator by 0.8 pp and reached 2.2 percent, which is somewhat below the confidence band.
The Board admitted that the external sector developments on the inflation environment in Armenia are mainly in...
Statistical overview (February. 2012)
2012-04-04 11:55
Statistical overview
The “CBA Bulletin” monthly of the Central Bank of Armenia has a section Monetary Overview which contains information on monetary, external, fiscal and real sectors, and data on payment and settlement system and the main financial system ratios.
The source of information on real sector (excluding core inflation) and external trade is the National Statistics Service of Armenia (http://www.armstat.am). The source of information on fiscal, external sectors...
Financial Stability Report (2011 annual report)
2012-04-03 16:51
This Financial Stability Report presents an assessment of potential risks that could threaten the stability of financial system of the Republic of Armenia as well as the capacity of the financial system to absorb such risks. More detailed information on Armenia's macroeconomic environment and financial system analyses is available in the Central Bank's periodicals, such as Annual Report of the Central Bank, Status Report on Monetary Policy Implementation and Armenian Financial System:...
Statistical overview (January. 2012)
2012-03-06 11:52
Statistical overview
The “CBA Bulletin” monthly of the Central Bank of Armenia has a section Monetary Overview which contains information on monetary, external, fiscal and real sectors, and data on payment and settlement system and the main financial system ratios.
The source of information on real sector (excluding core inflation) and external trade is the National Statistics Service of Armenia (http://www.armstat.am). The source of information on fiscal, external sectors...
The Board of the CBA left the refinancing rate unchanged 8 percent
2012-03-06 11:30
Interest rate unchanged, 8 percent
In the March 6th of 20 12 Meeting the Board o f CBA decid ed to leave the Refinancing Rate of CBA unchanged, at 8 percent.
There was 0.9 percent deflation recorded in February of 2012, and the 12-mo nth inflation decreased against the previous m onth’s indicator by 1.8 pp a nd reached 3.0 percent, which is within the confidence band of 4%±1.5 pp.
The Board admitted that internatio nal prices of main raw materials a nd food pro ducts shaped...
Status report on implementation of the monetary policy program (Inflation Report) Q4, 2011
2012-02-24 22:14
(2011/4) SUMMARY
In the fourth quarter of 2011 the inflation environment further eased, and the 12-month inflation rested within the confidence band at the end of the year as a result. This was driven by both domestic and external macroeconomic developments. Prices of food products and raw materials in world markets continued falling amid the world economic growth slowdown and escalation of debt problems in the Euro-area. In the meantime, attributable to tightened monetary conditions...
(2012/1) The Monetary policy program Q1, 2012
2012-02-07 15:29
Actual indicators and developments in 2011
The beginning of 2011 was characterized by high inflation environment which had been a consequence of increased international prices of raw materials and food products, declined supply in agriculture in Armenia due to the recorded downfall in that sector as well as second round effects of high inflation and high inflationary expectations during 2010.
At the end of 2010 the Board of the Central Bank outlined a necessity to tighten monetary conditions...
The Board of the CBA left the refinancing rate unchanged 8 percent
2012-02-07 11:26
Interest rate unchanged, 8 percent
In the February 7, 2011 Meeting the Board of CBA decided to leave the Refinancing Rate of CBA unchanged, at 8 percent.
In January of 2012 inflation was 3.6 percent, and the 12-month inflation against the previous month’s indicator increased by 0.1 pp and reached 4.8 percent, which is within the confidence band of 4%±1.5 pp.
The Board admitted that inflationary pressures on the Armenian economy from external environment are not expected in the...
The Board of the CBA left the refinancing rate unchanged 8 percent
2012-01-10 11:23
Interest rate unchanged, 8 percent
In the January 10, 2012 Meeting the Board of CBA decided to leave the Refinancing Rate of CBA unchanged, at 8 percent.
In December of 2011 inflation was 2.5 percent, and the 12-month inflation for 2011 amounted to 4.7 percent as a result, which is within the confidence band of 4%±1.5 pp.
The Board admitted that inflationary pressures coming in to the Armenian economy from external environment in short run are weak: international prices of raw...