Կենտրոնական բանկ

The Board of the CBA left the refinancing rate unchanged 5.0%

In its December 8, 2009 meeting the Board of CBA decided to leave Refinancing Rate of CBA unchanged, at a level of 5.00 percent.

In November of 2009 some 1.2 percent inflation was recorded, while the 12-month inflation reached 4.6 percent, growing by 1.1 pp against the same indicator recorded in the previous month.

The Board asserted that in view of the tendency of recovering world economy inflationary pressures spilled over from the external environment have intensified in the current period due to faster than expected increases of international prices of ore and minerals and food products. In the meantime, with the activation of the domestic economy and gradually recovering aggregate demand, additional inflationary pressures are likely.

In anticipation of further economic decline and uncertainties with the rate of recovery of the aggregate demand, the Board is still tentative as to moving to a policy of tighter monetary conditions