Կենտրոնական բանկ

Monetary Policy Transparency Report (August, 2025)

Monetary Policy Outlook

The Board of the Central Bank of Armenia voted to leave the policy rate unchanged (see Table 1). The Board will continue to monitor risk scenarios, and stands ready to take adequate actions to ensure that the price stability objective of 3 percent inflation over the medium-term horizon is met. 

Table 1. Summary of Votes on the CBA Refinancing Rate by Individual Board Member (August 5, 2025 Decision)