Armenian central bank hikes rate by 1.25 percentage points
Policy-makers choose “relatively large” rate hike despite hit to growth from Russia-Ukraine conflict
The Central Bank of Armenia raised its policy rate by 1.25 percentage points on March 15, taking it to 9.25%, as policy-makers looked to offset geopolitical risks in the region.
The central bank’s statement noted the heavy sanctions imposed on Russia as a result of its invasion of Ukraine, saying they would likely also trigger a “significant slowdown” of the Armenian economy.
Nevertheless, policy-makers opted for a “relatively large” hike, because they judge inflationary risks to be the
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