Armenia raises rate 8th time on upward inflation risks
The Central Bank of Armenia (CBA) raised its refinancing rate by a further 25 basis points to 8.0 percent and has now raised it a total of 3.75 percentage points since it began tightening in December 2020 and followed this up with rate hikes in February, May, June, August, September and December last year and today.
CBA said the latest wave of the COVID-19 pandemic was spreading “rapidly,” but its impact on the economy is assessed as weak.”
Inflation in Armenia fell to 7.7 percent in December from a 2021-high of 9.6 percent in November but due to rising energy prices and disruptions to supply chains in international commodity and food markets, CBA said there is a persistent high inflationary environment, which is leading central banks in partner countries to tighten monetary conditions faster than expected.
”As a result, the external sector will continue to have an inflationary impact on the Armenian economy,” CBA said, adding it considered it appropriate to raise the interest rate further so inflation gradually declines toward the target level of 4.0 percent.
Source: http://www.centralbanknews.info/2022/02/armenia-raises-rate-8th-time-on-upward.html
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 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 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).