July 28, 2020 / 8:30 AM / 11 days ago

Armenia central bank holds key refinancing rate unchanged at 4.5%

YEREVAN (Reuters) - Armenia’s central bank kept its key refinancing rate unchanged on Tuesday at 4.5%, the bank said in a statement.

The central bank cut the refinancing rate to 4.5% from 5% in June, to 5% from 5.25% in April and to 5.25% from 5.5% in March after holding it unchanged in January.

Armenia’s consumer price index dropped by 1.4% in June month-on-month, but rose 1.7% year-on-year. The central bank will hold its next meeting on rates on Sept. 15.

Reporting by Nvard Hovhannisyan; Writing by Margarita Antidze; Editing by Gareth Jones

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