Armenia central bank raises policy rate 50bp

The Central Bank of Armenia
Photo: Serouj/Wikimedia

The Armenian central bank’s governing board increased its policy rate by 50 basis points to 6% on May 4, in its third rate hike since September, when it stood at 4.25%.

The CBA board cited rising prices on external markets in explaining its decision, specifically mentioning food prices. Inflation reached 5.8% at the end of March, the central bank said. It added a domestic economic recovery was producing higher inflation expectations.

The central bank’s inflation target is 4%, with a 1.5%

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