YEREVAN, October 13, /ARKA/. To stem inflationary pressure, with consumer price index inflation peaking at 8.8% in August, the Central Bank of Armenia has hiked interest rates several times since December 2020, by a total of 300 basis points, Standard & Poor’s said in a report. This, and the recent dram appreciation, should help bring inflation more toward the 4% target over the coming 12-36 months.

‘We think that the Central Bank of Armenia’s monetary policy framework benefits from the institution’s high degree of operational independence and its improving credibility following effective efforts to anchor inflation expectations. The dram is free-floating, and the central bank intervenes from time to time, such as in 2020, to prevent disorderly market conditions. However, the relatively high dollarization and shallow domestic capital markets in local currency somewhat inhibit the country's monetary transmission channels,’ the ratings agency said.

Categories: 121, 144, Economy @en, General news, News, News of the hour | Comments Off on Standard & Poor’s: increased interest rate and dram appreciation should help bring inflation more toward 4% target

Tags: INFLATION, interest rate, Standard & Poor’s

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Unibank said it has raised the interest rate on the deposit “Classic” in AMD up to 10.25%. According to a bank’s press release, clients can deposit funds for up to 730 days with income payment on a monthly basis or at the end of the deposit term

Categories: 121, Banks @en, General news, News, News of the hour | Comments Off on Unibank raises interest rate on deposit "Classic" up to 10.25%

Tags: Classic, Deposit, interest rate, Unibank

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Armenia’s National Assembly on Wednesday approved in the second and final reading a package of amendments to the Law On Consumer Lending

Categories: 121, Banks @en, General news, News, News of the hour | Comments Off on Lenders in Armenia obliged to inform borrowers on actual interest rate

Tags: Armenia, interest rate, Lenders

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According to a study by ARKA news agency, the highest interest rate on individual time deposits in Armenian drams is 10% per annum, offered by Armbusinessbank. The maturity period of the deposit is 271-365 days

Categories: 121, Banks @en, General news, News, News of the hour, Ratings | Comments Off on Average interest rate on deposits in drams with maturity period of 12 months is 8.85%

Tags: Armenia, Banks, Deposits, interest rate

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As part of a government program on subsidizing interest rates, farmers and agricultural cooperatives can get loans at the interest rate of up to 5%

Categories: 121, Banks @en, General news, News, News of the hour | Comments Off on Farmers in Armenia may get loans at 3-5% interest rate

Tags: Armenia, farmers, interest rate, LOANS

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The Yerevan-based ACBA Leasing Company has unveiled today an offer, designed for legal entities to acquire commercial real estate on leasing starting from 8% interest rate per annum

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VTB Bank (Armenia) said today it has raised the interest rate on deposits in Armenian drams to 10%, saying the move applies to deposits placed for a period of one year

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Tags: Deposits, interest rate, VTB Bank (Armenia)

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The average annual interest rate on mortgage loans in USD in February 2016 increased by 0.3% from the previous month to 12.6%, according to the Central Bank of Armenia

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Tags: February, interest rate, LOANS

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Average annual interest rate on dollar mortgage loans dropped by 1.5 percentage points to 12.4% in Armenia in October

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Tags: Armenia, interest rate, LOAN

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