CENTRAL BANK COULD NOT COUNTERACT TO EXTERNAL SHOCK
12-month inflation reported 5.7% in October instead of 2.7% of September this year exceeding the target indicator of 41,5%. This date was released by the Armenian Central Bank. It must be mentioned that the inflation totaled 3.1% only in October and it made 3% against December of last year. According to Central Bank press services, the rise in prices was conditioned by external factors, particularly by higher international prices on ''bread products'' and ''natural oil and butter.'' In June-October, the prices on these products went by 21% and 31 % contributing to inflation by 3.1 and 1.3 percents. Such sharp rise in international prices is viewed as external shock which the monetary and credit regulation structures could not neutralize only using monetary mechanisms. The Central Bank assures that conditioned by external shocks, exceeded risks of targeted inflation rates have happened throughout the world. The chief bank reported that in the course of recent few months the unexpected high prices on oil, wheat, butter and natural oil, despite of evaluation of the Armenian dram, have created a high inflation environment in the internal market. Under these conditions, the Central Bank board has discussed possible scenarios of raising the interest rates and restraining monitory and credit policies. As a result, it was decided that the interest rate level for re-funding must be raised by 0.25 percent setting it at 5.25 percent. The interest rated of attracted monetary means and pawn-shop credits are set at 2.25 percent and 8.25 percent respectively.
PRESIDENT OF NETHERLANDS BANK AND ARMENIAN PRIME MINISTER DISCUSS POSSIBILITY OF ARMENIA TO BECOME A FINANCIAL CENTER
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Allocations from state budget for the recovery of historical and cultural monuments have been provided since 2004. As a result, 12-13 historical monuments are renovated annually, department head at the ...''RELATIONS OF LITHUANIA WITH ARMENIA HAVE GOOD FUTURE,'' MINISTER SAYS
Armenian Prime Minister Serzh Sargsyan received Lithuania National Defense Minister Yozas Olekas today together with the delegation, spearheaded by him. During the meeting, both parties underscored that ...CENTRAL BANK COULD NOT COUNTERACT TO EXTERNAL SHOCK
12-month inflation reported 5.7% in October instead of 2.7% of September this year exceeding the target indicator of 41,5%. This date was released by the Armenian Central Bank. It must be mentioned that ...
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