Armenian Central Bank cuts key refinancing rate to 6.75%

The Armenian Central Bank said on Tuesday it had decided to cut its refinancing rate to 6.75 percent from 7.25 percent.

Annual deflation in the South Caucasus country was at 1.9 percent in August, compared to 1.3 percent deflation in July, according to central bank data. Monthly deflation in August was 0.5 percent, compared to 2.3 percent deflation in July.

The government forecasts annual inflation in a 2.5-5.5 percent range in 2016, the same as last year’s target.

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