Armenia's Central Bank reduces refinancing rate to 9.5% from 9.75%

YEREVAN. Oct 31 (Interfax) - The board of the Central Bank of Armenia on Tuesday decided to reduce the refinancing rate by 0.25 percentage points, setting it at 9.5%, the regulator said in a statement.

This is the second rate cut since the beginning of autumn. In September, the Central Bank reduced the refinancing rate by 0.5 percentage points, setting it at 9.75%.

In June, the Central Bank Council cut the refinancing rate by 0.25 percentage points for the first time in almost a year to 10.5%, and at a meeting on August 1, it was decided to reduce the rate by another 0.25 percentage points, to 10.25%.