Housing Market Drivers and Dynamics in Armenia
2021-01-20 12:45
WP 21/1/08
Central Bank of Armenia Working Paper 21/1/08
Housing Market Drivers and Dynamics in Armenia
Haykaz Igityan, Hasmik Kartashyan Monetary Policy Department
January 2021
Abstract
This paper develops VAR model for Armenia with housing price and estimates the impact of housing price on GDP growth and inflation. Passthrough results show, that 1% increase in real housing price creates from 0.03 to 0.09% inflation and increases GDP by around 0.25% in the long run. Paper...
2 collector coins were issued
2021-01-18 10:54
2 collector coins were issued
Arno Babajanyan - 100th anniversary of the birth
Arno Babajanyan (1921-1983) is a famous Armenian composer, pianist, People’s Artist of the USSR (1970).
Babajanyan graduated from the Yerevan and the Moscow Conservatories. In 1950-1956 he taught at the Yerevan Conservatory. A celebrated piano virtuoso, Babajanyan was known for performing his own works. A. Khachatryan and S. Rachmaninoff had an influence on formation of Babajanyan’s creative style,...
Collector coin “Komitas-150” took the 3rd place in the nomination “Coin of the Year” in the international contest
2021-01-11 06:32
Collector coin “Komitas-150” took the 3rd place in the nomination “Coin of the Year” in the international contest
The silver collector coin issued by the Central Bank of Armenia in 2019 and dedicated to the 150th anniversary of the birth of the world-renowned Armenian composer and musicologist Komitas took the 3rd place in the nomination “Coin of the Year” in the 14th international contest “Coin Constellation-2020” (RF).
The designers of the...
Statement of financial position as at 31 December 2020
2020-12-31 10:34
Statement of financial position as at 31 December...
Statistical overview (December. 2020)
2020-12-30 16:08
Statistical overview
The Statistical Overview section of the monthly CBA Bulletin of the Central Bank of Armenia includes data on monetary, external, fiscal and real sectors, and data on RA payment and settlement system and financial system indicators.
The data source of real sector (excluding core inflation) and external trade in goods is the Statistical Committee of the Republic of Armenia (http://www.armstat.am). The data source on fiscal, external sectors, monetary and financial...
Inflation report 2020/4 (Monetary Policy Program Q4 2020, Status report on Implementation of the Monetary Policy Program Q3 2020)
2020-12-29 11:32
Executive summary
Armenia’s macroeconomic environment in the fourth quarter of 2020 shaped as the new wave of coronavirus pandemic broke out all over the world, including Armenia. In addition, important influence came from the martial law declared in Armenia due to the large-scale offensive unleashed by Azerbaijan on September 27th along the entire line of contact with the Artsakh Republic. These factors are estimated to have added to uncertainties about the economic outlook, which will...
Lists established under UNSC resolutions were changed
2020-12-21 07:41
On 16 December 2020, the Committee established pursuant to the UN Security Council resolution 1518 approved changes to the list of individuals and entities associated with...
A new collector coin has been issued
2020-12-21 06:41
A new collector coin has been issued
Since December 21, 2020 the Central Bank of Armenia has put the “Mother Cathedral of Holy Etchmiadzin" silver collector coin into circulation.
The Mother See of Holy Etchmiadzin is the spiritual center of all Armenians and the Holy See of the Supreme Patriarch and Catholicos of All Armenians.
The Mother Cathedral of Holy Etchmiadzin is the first official cathedral of the Christian world, which was built in 301-303, initiated by and through the...
Refinancing rate raised by 1.0 pp to 5.25 percent
2020-12-15 06:23
Refinancing rate raised by 1.0 pp to 5.25%
At the December 15, 2020 meeting the Board of the Central Bank of Armenia decided to raise the refinancing rate by 1.0 percentage point to 5.25%.
Inflation in November 2020 stood at 1.3%, compared to 1.1% in the same month of the previous year. As a result, the 12-month inflation amounted to 1.6%, still below the 4% target. In November, the 12- month core inflation also continued rising, which at the end of the month stood at about 2.0%.
In the...
Modelling the Effects of a Health Shock on the Armenian Economy
2020-12-10 12:33
Central Bank of Armenia Working Paper 20/2/08
Modelling the Effects of a Health Shock on the Armenian Economy
Ani Asoyan, Vahagn Davtyan, Haykaz Igityan, Hasmik Kartashyan, Hovhannes Manukyan
December 2020
Abstract
This paper extends the closed economy DSGE model in order to evaluate the impact of the coronavirus on the economy. Our model makes it clear that people’s decisions to reduce consumption and working hours due to the health crisis lead to an economic...
The Authorized Body published the list of terrorism-related persons
2020-12-10 07:44
Pursuant to Paragraph 12 of Part 1 of Article 10 and Part 2 of Article 28 of the Republic of Armenia Law on Combating Money Laundering and Terrorism Financing, on 10 December 2020 the Authorized Body published the list of terrorism-related persons comprised of 150 individuals and 12...
Online training was delivered for the representatives of internal monitoring units of banks operating in RA
2020-12-07 07:46
On December 4 of this year the Financial Monitoring Center of the Central Bank of Armenia organized a webinar for the representatives of internal monitoring units of banks, in the framework of which, the following subjects were presented to the...
Lists established under UNSC resolutions were changed
2020-12-04 07:48
On 01 December 2020, the Committee established pursuant to the UN Security Council resolution 1518 approved changes to the list of individuals and entities associated with...
Statistical overview (November. 2020)
2020-11-30 16:04
Statistical overview
The Statistical Overview section of the monthly CBA Bulletin of the Central Bank of Armenia includes data on monetary, external, fiscal and real sectors, and data on RA payment and settlement system and financial system indicators.
The data source of real sector (excluding core inflation) and external trade in goods is the Statistical Committee of the Republic of Armenia (http://www.armstat.am). The data source on fiscal, external sectors, monetary and financial...
Status Report on Implementation of the Monetary Policy Program (Q4, 2019 - Q3, 2020)
2020-11-20 21:09
(2020/3 ) During the year preceding the fourth quarter of 2020, the inflationary environment in Armenia remained low due to both demand and supply-side factors. Thus, in the course of the fourth quarter of 2019 and first quarter of 2020 the Government carried out somewhat a contractionary fiscal policy, and mainly deflationary effects were transmitted from the outside world. The low inflationary environment was also driven by diverse competition observable in a number of commodity markets...