Yerevan, April 3 /Mediamax/. The Board of the Central Bank (CB) of Armenia lowered today the refinancing rate for 0.25 percent points, establishing it at the level of 4.5%.

As Mediamax was told in the press service of the Armenian CB, in March 2007, as compared to February, 0.6% price-cutting is registered. In these conditions the inflation made 4.4% in the 12-month period - 0.7 percent points lower that the planned level of inflation for the first quarter of 2007.

The Board of the Armenian Central Bank believes that the inflationary pressure from outside has considerably smoothened, and the existing tendencies in economy do not create conditions for the increase of the inflationary pressure, reasoned by the development of the aggregate demand.

In this situation, the Board of the Armenian CB considers it realistic that the real inflation will be lower than the level, targeted at the level of 4%.

In the conditions of preservation of the present prospects of economy development, the CB Board does not rule out the probability of a further clarification of the interest rates.