Central Bank of Armenia cuts refinancing rate by 25 bps to 7.0% pa
YEREVAN. Dec 10 (Interfax) - The board of directors of the Central Bank of Armenia has decided to cut the refinancing rate by 25 basis points to 7.0% per annum, the regulator said.
The rate had been 7.25% pa since September 29, when the central bank trimmed it by 25 bps from 7.50%.
The regulator cut the rate on five occasions in 2023 and has trimmed it eight times so far this year.
The country's statistical committee said that Armenia had annual inflation of 1.4% in November. The target inflation rate is 4% plus or minus 1.5 percentage points in 2024.