Armenia central bank raises policy rate 50bp
Inflation forces rate hike, matching moves by other former Soviet republics
The Armenian central bank’s governing board increased its policy rate by 50 basis points to 6% on May 4, in its third rate hike since September, when it stood at 4.25%.
The CBA board cited rising prices on external markets in explaining its decision, specifically mentioning food prices. Inflation reached 5.8% at the end of March, the central bank said. It added a domestic economic recovery was producing higher inflation expectations.
The central bank’s inflation target is 4%, with a 1.5%
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