Status report on implementation of the monetary policy program (Inflation report) Q4, 2010
2011-02-18 17:49
2010/4 SUMMARY
High inflationary environment has been the main macroeconomic development over 2010. One factor that contributed to the creation of such an environment was sharp increase of food prices in world markets (in 2010 the World Bank Food Index rose by 25.3 percent), fuelled greatly by price increases on wheat (48.6 percent p.a.) sunflower oil (47.5 percent p.a.) and sugar (42.8 percent p.a.). The other significant factor was the
downfall in agriculture, which led to sever...
The Board of the CBA raised the refinancing rate by 0.5 percent
2011-02-08 12:05
The Board of the CBA raised the refinancing rate by 0.5%
In the February 8, 2011 meeting the Board of CBA decided to raise the Refinancing Rate of CBA by 0.5 pp, to 7.75 percent.
In January of 2010 inflation was 2.8 percent, and the 12-month inflation indicator reached 10.6 percent, greatly contributed by food prices increases of as much as 8.8 pp.
The Board agreed that the inflationary environment will keep on expanding as expected tension arising out of fundamentals in food and primary...
The Monetary Policy Programm of the Republic of Armenia Q1, 2011
2011-01-31 16:06
(2011/1) Q4 2010 actual indicators and developments
In the beginning of 2011 the macroeconomic situation was characterized by high inflationary environment as influence of expansionary fiscal and monetary policies implemented in 2009 began to appear at the yearend 2009, and it was expected that in the first quarter of 2010 it would reach its peak. The other factor contributing to the inflationary environment were increased international prices of food and primary goods since the second half of...
The Board of the CBA left the refinancing rate unchanged 7.25 percent
2011-01-11 12:02
The Board of the CBA left the refinancing rate unchanged 7.25%
In the January 11, 2011 meeting the Board of CBA decided to leave the Refinancing Rate of CBA unchanged, at 7.25 percent.
In December of 2010 inflation was 1.8 percent, and annual inflation indicator for 2010 reached 9.4 percent.
The Board stated that a high level of the 12-month inflation remains to be driven by price increases on agricultural products and food products in international markets: total contribution of food price...
Statement of financial position as at 31 December 2010
2010-12-31 18:13
Statement of financial position as at 31 December...
Financial System of Armenia. Development, Regulation, Supervision 2009
2010-12-20 11:15
Inflation
The 2009 was full of crisis challenges for the financial system of Armenia. Negative indications of global crisis penetrated the financial system already in the fourth quarter of 2008, when economic growth rate declined almost in all areas of real sector.
While implementing policy for mitigating negative impacts of global crisis on Armenian financial system, the Central Bank of Republic of Armenia (hereinafter CBA) considered combination of price stability and financial stability as...
Financial Stability Report (2010 1st half)
2010-11-23 13:09
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:...
Status report on Implementation of the Monetary Policy Program Q3, 2010. Inflation report
2010-11-12 12:55
(2010/3) Summary
The main macroeconomic developments in the third quarter of 2010 were characterized by deepening inflationary environment and slowing recovery rates in world and domestic economies. A high inflationary environment was mostly attributable to the downfall in agriculture and steep price rise in food products, wheat in particular, in global markets. Also, the tightening of monetary policy since the beginning of the year, including the developments in the foreign exchange market,...
The Board of the CBA left the refinancing rate unchanged 7.25 percent
2010-11-09 13:35
The Board of the CBA left the refinancing rate unchanged 7.25%
In the November 9, 2010 meeting the Board of CBA decided to leave the Refinancing Rate of CBA unchanged, at 7.25 percent.
In October of 2010, 1.0 percent inflation was recorded, and the 12-month inflation indicator has grown by 0.5 pp against the previous month’s respective indicator to reach 9.1 percent. The Board stated that a high level of the 12-month inflation remains to be driven by supply shocks, particularly as a...
The Board of the CBA left the refinancing rate unchanged 7.25 percent
2010-10-12 13:32
The Board of the CBA left the refinancing rate unchanged 7.25%
In the October 10, 2010 meeting, the Board of CBA decided to leave the Refinancing Rate of CBA unchanged, at 7.25 percent.
In September 2010, a 0.2 percent deflation was recorded against the previous month’s indicator, and the 12-month inflation decreased by 1.0 pp, and amounted to 8.6 percent.
The Board stated that in spite of high inflationary environment due to the developments in the international commodity markets and...
Statement of financial position as at 30 September 2010
2010-09-30 18:20
Statement of financial position as at 30 September...
The Board of the CBA left the refinancing rate unchanged 7.25 percent
2010-09-07 13:29
The Board of the CBA left the refinancing rate unchanged 7.25%
In the September 7, 2010 meeting the Board of CBA decided to leave the Refinancing Rate of CBA unchanged, at 7.25 percent.
In August of 2010, 1.3 percent inflation was recorded, while the 12-month inflation indicator has grown by 1.8 pp against the previous month’s respective indicator and amounted to 9.6 percent.
The Board stated that acceleration of the 12-month inflation has been a result of price increases in items such...
The Board of the CBA left the refinancing rate unchanged 7.25 percent
2010-08-10 13:26
The Board of the CBA left the refinancing rate unchanged 7.25%
In the August 10, 2010 meeting, the Board of CBA decided to leave the Refinancing Rate of CBA unchanged, at 7.25 percent.
In July 2010, 0.8 percent deflation was recorded, while the 12-month inflation increased by 2.0 pp against the previous month’s indicator, and amounted to 7.8...
The Board of the CBA left the refinancing rate unchanged 7.25 percent
2010-07-13 13:23
The Board of the CBA left the refinancing rate unchanged 7.25%
In the July 13, 2010 meeting the Board of CBA decided to leave the Refinancing Rate of CBA unchanged, at 7.25 percent.
In June of 2010, 0.8 percent deflation was recorded, while the 12-month inflation has dropped by 0.5 pp against the previous month’s indicator, ana amounted to 5.8 percent.
The Board’s consensus is that continued tightening of monetary conditions since the start of the year, falling international...
Quarterly review (first quarter, 2010)
2010-06-20 07:42
Financial System of the Republic of Armenia Q1, 2010
Banks functioning in the Republic of Armenia
As of 31.03.2010, there have been 22 commercial banks with a total of 389 branch offices, functioning in the territory of the Republic of Armenia. In the period under review, coupled with spurring up of the economy, growth trends observable throughout previous two quarters in a row persisted in the banking market. Assets and loans of the banking sector reported growth by 4.3 percent and...