ArmInfo.The Central Bank of Armenia increased the refinancing rate by 0.5 percentage points - from 5.5% to 6%. As ArmInfo was told in the press service of the Central Bank of Armenia, this decision was made on May 4 at a meeting of the Central Bank Council.
In accordance with this, the lombard repo rates were also increased by 0.5 percentage points - from 7% to 7.5%, and on deposits attracted from banks - from 4% to 4.5%.
A detailed justification of this decision of the Central Bank Board today (at 3:30 pm) at a press conference will be presented by head of the Central Bank Martyn Galstyan.
To note, the first revision of the refinancing rate took place on February 2, 2021, namely, it was increased from 5.25% to 5.5%. In accordance with this, the rates on lombard repo increased by 0.25 percentage points - from 6.75% to 7%, and on deposits attracted from banks - from 3.75% to 4%. And the rates remained at this level until May 4 of this year. Prior to that, in 2020, the Central Bank revised the refinancing rate four times downward and once upward. In particular, after the reduction of the refinancing rate from 5.5% to 4.25% (March, April, June, September), December was followed by an increase to 5.25%. And the corresponding change was undergone by the rates on lombard repo and on deposits attracted from banks
