At its meeting on July 30, the Board of the Central Bank of Armenia decided to reduce the refinancing rate. The key rate was decreased by 0.25 percentage points, now standing at 7.75%.
Additionally, other important financial indicators were adjusted. The Lombard repo rate provided by the Central Bank was set at 9.25%, and the rate for funds attracted from banks was set at 6.25%.
This move continues the Central Bank's policy of easing monetary conditions, which has been in place since June 2023. The primary goal of these measures is to facilitate access to financial resources in the economy.
It's worth noting that this period of rate reductions was preceded by a prolonged cycle of rate increases. Since December 15, 2020, the Central Bank gradually raised the refinancing rate from 4.25% to 10.75%. These measures were aimed at curbing inflation in the country.
