Armenia raises policy rate by 50bp

The Central Bank of Armenia
Photo: Serouj/Wikimedia

The Central Bank of Armenia’s board raised its policy rate on November 1, as inflation continued to rise, driven in part by Russians fleeing conscription.

The board announced a 50 basis point increase to 10.5%.

The move was the third consecutive increase, and the fourth of 2022. Since the end of 2020, Armenian authorities have raised the rate by 625bp.

The central bank board cited rising inflation in its statement. Headline inflation reached 9.9% in September, up from 9.1% in August and more

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