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