Armenian Interest Rate Hike to 9.5%

August 2, 2022

The Central Bank of Armenia had cut its refinancing rate in 2020 to a 10-year low of 4.5%. Increases from May 2021 had totaled 325 basis points by the end of that year and have been followed three more moves so far in 2022: 25 basis points in February, 125 bps in March and 50 basis points announced today. The new rate level of 9.5% is the highest its been since 2015 but not yet above the actual CPI inflation rate, which accelerated this year from 6.5% in February to 10.3% at midyear.

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