Yerevan /Mediamax/. In the nearest future all Armenian banks will increase the interest rates for credits## and deposits, General Director of “HSBC Armenia” Bank Tim Slater stated.

Answering the question of Mediamax, Tim Slater stated that CB Head met with Heads of commercial banks a few days ago and informed on the expected increase of interest rates.

“The reason is that CB is trying to prevent growth of inflation. The best means to reach this goal is the growth of refinancing rate, and the banks will have to react to CB signs”, Tim Slater stated.

Deputy Chairman of the Armenian CB Vache Gabrielyan refrained from assessing the degree of the rate increase in the banking system of Armenia, noting that this depends on a number of factors, ands mainly on the sources of banking borrowings.