Yerevan, February 4 /Mediamax/. The Central Bank of Armenia increased the refinancing rate for 0.25 percentage points, establishing it at the level of 6%.

As Mediamax was told in the press service of the Central Bank, the given decision was made by the CB Board today during its session.

In January 2008, as compared to December of 2007, inflation at the volume of 2.4% was registered. The inflation index in the course of the year made 6.6%, preserving at the level, marked in the end of 2007.

The CB Board believes that, in the light of the high inflation climate, preserved in the world market, there are no perquisites for mitigation of inflationary pressures in the Armenian economy.

The CB Board believes that the developments of the internal atmosphere are still conditioned by the high speeds of growth of the private consumption, as well as those developments bear the influence of the broad tax-budget policy, expected in 2008.

The CB Board noted that the inflationary pressure will continue in the course of the whole year, and it will become possible to reach mitigation of inflationary expectations only by means of gradual toughening of the monetary-credit policy.