Armenia orders 25bp interest rate hike
High inflation prompts central bank to continue postwar tightening cycle
The board of the Central Bank of Armenia raised its benchmark rate by 25 basis points, to 9.5%, on August 2.
Armenian policy-makers have been raising the key rate since December 2020 from a pandemic low of 4.25%, following the Armenia-Azerbaijan war between September and November 2020. The August 2 decision is the tenth rate increase since that war. The largest rate hike, made in March, during the first month of the Russian invasion of Ukraine, was 125bp.
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