Yerevan /Mediamax/. The Central Bank of Armenia left unchanged today the refinancing rate, establishing it at the level of 7.75%##.

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.

It was noted at the session that in September, 2008, as compared to August, inflation at the volume of 0.5% was registered. The annual inflation index decreased for 0.2 percentage points and made 11.3%.

CB Board noted that in the third quarter of 2008, the decrease tendency for inflation, coming from outside, continued and the developments of the local demand did not cause additional inflation pressure. Moreover, a slow decrease of local prices for fuel and certain foodstuffs is registered.

CB Board believes that the decrease of the world demand, conditioned by the recent developments in the world financial markets, creates serious grounds for the further mitigation of the external inflation pressure.

CB Board noted that it considers expedient to leave the refinancing rate unchanged until the directions of world and internal economic developments are revealed more clearly.