Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By CentralBankNews.info (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Armenia holds rate after 2 hikes as demand still weak

% of readers think this story is Fact. Add your two cents.


      Armenia’s central bank left its benchmark interest rate steady, saying it considers it appropriate to maintain the rate after two recent rate hikes in response to rising inflation and inflation expectations as demand remains weak.
     The Central Bank of Armenia (CBA) kept its refinancing rate at 5.50 percent after raising it by a total of 125 basis points in December last year and at its previous board meeting in February this year.
     The two rate hikes completely unwound the central bank’s four rate cuts last year in response to the COVID-19 pandemic and the refinancing rate is now back to its level before the rate cuts began in March 2020.
     Last year’s rate cuts from March through September extended a monetary easing cycle that began in August 2015 when the rate was 10.50 percent. The rate is now 5 percentage points below then.
     CBA said its board was unanimous in its view that in the near future monetary policy will be aimed at neutralizing any risk of an acceleration of inflationary expectations without damaging a recovery of demand.
      After some acceleration in the near future, CBA expects inflation to decelerate within the forecast horizon to be close to the 4.0 percent target.
      Inflation in Armenia, which saw its worst military confrontation with with neighboring Azerbaijan over the Nagorno-Karabakh region in October last year, has risen in the last four months to 5.3 percent in February from 1.3 percent in October 2020.
     After more than a month of bloodshed, Armenia and Azerbaijan signed a Russian-brokered peace deal on Nov. 10 and CBA said economic activity remained weak in the first quarter of this year reflecting the impact of continued weak demand and low private consumption.
     ”Despite a slightly expanding fiscal policy, amid uncertainty and slowing credit growth, domestic demand is expected to remain somewhat subdued in the near future,” CBA said, adding under those conditions it does not expect any inflationary impact from the domestic economy.
   



Source: http://www.centralbanknews.info/2021/03/armenia-holds-rate-after-2-hikes-as.html



Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse
Loading...

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.