Armenia’s central bank lowers Lombard repo rate by 1.5 p.p. to 12%

25.03.2015 12:24
Armenia’s central bank lowers Lombard repo rate by 1.5 p.p. to 12%

YEREVAN, March 25. /ARKA/.   The council of the Central Bank of Armenia (CBA) lowered on Tuesday the Lombard repo rate by1.5 percentage point to 12%, CBA’s press office reported.

At the same time, the central bank decided to keep the refinancing rate at 10.5% level.

The tense in the financial and commodities’ markets after the last year developments has dropped, and the central bank continues lowering the short-term interest rates, says the report.

The last revision of the Lombard repo rate took place on March 14 when it was reduced from 14.5% to 13.5%.

For curbing the pressures on the currency market amid the dollar rate’s rocketing by 16.6 points to 435 drams per $1, the central bank raised the value of short-term dram liquidity on November 24 and raised the Lombard repo rate from 8.25% to 10.25%, and up to 20% later. Today the USD versus dram rate is 475.18 in Armenia. –0--


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Tags: , , Новости Армении АМИ Новости-Армения

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