YEREVAN, 29 July. /ARKA/. The Central Bank of Armenia is likely to further cut the refinancing rate to 7.5% by the end of 2024, the Eurasian Development Bank believes.

‘The refinancing rate will be lowered as the inflation rate is below w the Central Bank's target range (4±1.5 per cent). According to our estimates, the restraining effect of monetary policy on demand will be gradually exhausted during the year. In 2025, the interbank lending rate will be near 7 per cent, which will correspond to stable inflation within the target range of the Central Bank,’ the EDB forecast says.

The Board of the Central Bank of Armenia lowered the refinancing rate by 0.25 percentage points at a meeting on 11 June, setting it at 8.00%. It was the 9th lowering of the refinancing rate since June last year.-0-.