Armenian central bank raises rates again

central-bank-of-armenia
The Central Bank of Armenia
Photo: Serouj/Wikimedia

Armenia’s central bank has raised its main policy rate for the fourth time in 12 months in a bid to curb inflation.

The Central Bank of Armenia board raised the refinancing rate by 50 basis points to 6.5%. It had previously raised the rate by 50bp in May, by 25bp in February and by 100bp in December.

The board also raised the other two policy rates, the deposit rate and the Lombard repo rate by 50bp each, to 5% and 8%. It said in a statement that it was prepared to tighten monetary policy

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