Financial System of Armenia. Development, Regulation, Supervision 2008
2009-05-20 13:41
Introduction
In 2008, the Armenian financial system development and growth continued, and displayed high flexibility in spite of the difficulties observed at the end of the year. Despite the turbulences in the global financial market, the financial system development in the first three quarters continued at the same rate as in the previous year. The negative impacts of the global recession penetrated into the Armenian financial system only in the fourth quarter of the year, as the economic...
Inflation report. Monetary policy program Q2, 2009
2009-05-12 22:13
(2009/2) Actual indicators and developments in Q1, 2009
Diverse impacts of external and domestic economic factors determining price behavior came out as a distinctive mark for the first quarter of 2009. With the global demand further declining, a low inflationary environment in the external sector persisted throughout the quarter, having spilled over to Armenia’s commodity markets, as well. In the meantime, determined by the same factor, consumption and investment components of the...
The Board of the CBA lowered the refinancing rate by 0.25 percent
2009-05-12 06:14
The Board of the CBA lowered the refinancing rate by 0.25%
In the May 12, 2009 meeting the Board of CBA lowered the Refinancing Rate of CBA by 0.25 pp to 7.25 percent.
Inflation in April was 3.2 percent, while the 12-month inflation has grown by 2.1 percentage points in relation to the previous month, making up 3.1...
Financial Stability Report (2008 annual report)
2009-04-29 10:35
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:...
Annual report 2008
2009-04-21 12:48
Introduction
The regular meetings of the Board are normally held once in a two-week period, on Tuesday. These meetings are held in accordance with the timetable which is subject to approval at the opening Board meeting each year. An ad hoc meeting of the Board can be held as and when initiated by Chairman, Deputy Chairman or at least three Board Members of the Central Bank. The Board approves the Charter of the Central Bank, the Monetary Policy Program of the Republic of Armenia, caps and...
The Board of the CBA raised the refinancing rate by 0.25 percent
2009-04-07 13:53
The Board of the CBA raised the refinancing rate by 0,25%
In the April 7, 2009 meeting the Board of CBA decided to lower the Refinancing Rate of CBA by 0.25 pp to 7.50 percent.
Inflation in March was 1.4 percent, while the 12-month inflation had not changed in relation to the previous month, making up 1.0...
The Monetary Policy Programm of the Republic of Armenia Q1, 2009 (adjusted)
2009-03-30 17:56
Forecasts for 2009 (adjusted forecasts)
In March 2009, with the world economic crisis persisting, the IMF and the World Bank revised the indicator of economic growth as they predicted decline instead of 0.5 percent growth, first time ever in the period after the end of WW2. Considerable decline in external demand, unfavorable terms of trade and slackening financial inflow will continue affecting the Armenian economy adversely. The reduction in world demand will also keep international prices...
The Monetary Policy Program of the Republic of Armenia Q1, 2009
2009-03-27 21:55
(2009/1) Performance and Developments in 4th Quarter of 2008
Inflation was 0.9% in the fourth quarter of 2008, while 12-month inflation fell by 6.1 percentage points over the previous quarter to reach 5.2%. Starting from Q2 2007 until Q3 2008 tightening of the monetary conditions by the CBA, together with the passthrough of the external sector deflationary environment impact in Q4 2008 allowed achieving the 4±1.5% inflation target.
Given the inflation developments in Q4 2008, CBA...
The Board of the CBA raised the refinancing rate by 1.0 percent
2009-03-03 13:49
The Board of the CBA raised the refinancing rate by 1.0%
The CBA Board, discussing the situation induced by the global financial and economic crisis, recorded that the financial system of Armenia is stable, well-capitalized, very liquid, and ready to confront further challenges imposed by the global crisis. The board observes that monetary policy geared towards maintaining financial stability has yielded significant results and that further emphases of monetary policy will be aligned towards...
The Monetary Policy Program of the Republic of Armenia Q4, 2008. Inflation report
2009-02-20 15:34
(2008/4) Dear Reader,
The new articles 6 and 17 of the Republic of Armenia Law on Central Bank, which have become effective since January 1, 2008, require a change in the format and structure of reports which the Central Bank presents.Previously, the Annual Report of the Central Bank used to contain reports on inflation and financial stability, financial accounts of the Central Bank, the report on governance, and a statistical appendix.Now, according to the new requirement, the quarterly...
The Board of the CBA lowered the refinancing rate by 0.25 percent
2009-02-10 13:46
The Board of the CBA lowered the refinancing rate by 0.25%
In the February 10 2009 meeting the Board of CBA lowered the Refinancing Rate of CBA by 0.25 percentage points to 6.75 percent.
In January 2009, compared to the previous month, 1.2 percent inflation was recorded, while the 12- month inflation has reduced from the end-year’s 5.2 percent to make up 4.0...
The Board of the CBA lowered the refinancing rate by 0.25 percent
2009-01-13 13:40
The Board of the CBA lowered the refinancing rate by 0.25%
On the January 13, 2008 meeting, the CBA Board reduced the Refinancing Rate by 0.25 pp to 7.00%.
In December 2008, compared to November, inflation of only 0.1% was recorded, while the 12-month inflation decreased by about 1.4 pp to 5.2%, providing the inflation...
Statement of financial position as at 31 December 2008
2008-12-31 11:16
Statement of financial position as at 31 December...
The Monetary Policy Program of the Republic of Armenia Q3, 2008. Inflation report
2008-11-07 14:06
(2008/3)Dear Reader,
The new articles 6 and 17 of the Republic of Armenia Law on Central Bank, which have become effective since January 1, 2008, require a change in the format and structure of reports which the Central Bank presents.Previously, the Annual Report of the Central Bank used to contain reports on inflation and financial stability, financial accounts of the Central Bank, the report on governance, and a statistical appendix. Now, according to the new requirement, the quarterly...
Statement of financial position as at 30 September 2008
2008-09-30 12:07
Statement of financial position as at 30 September...