CBA LEAVES REFINANCING RATE UNCHANGED YEREVAN, FEBRUARY 2, NOYAN TAPAN. At the February 2 sitting, the Central Bank of Armenia (CBA) Board left the CBA refinancing interest rate unchanged, setting it at 4.75%, NT was informed from the CBA press service. The CBA Board takes the view that the already registered fall in prices of oil products in international market, as well as specification of forecasts on their fall in 2007 indicate a decline in inflation pressures from the external sector. At the same time, the CBA Board is unanimous in the opinion that these inflation pressures are moderate, despite the continuing intertia of inflation and the growth rates of gross demand. In this situatiion, the CBA Board considers it realistic to achieve the inflation target under the hypothesis of leaving unchanged the level of interest rates formed in the market.

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