Yerevan /Mediamax/.Board of the Central Bank of Armenia decreased the refinancing rate for 0.50 percentage points, establishing it at the level of 7.25%##.

As Mediamax was told in the press service of the Central Bank, the corresponding decision was made by CB Board at its session on December 2.

They noted at the session that in November, 2008, as compared to October, inflation at the volume of 0.1% was registered and the inflation index as to the whole year decreased for 2 percentage points, making 6.6%.

CB Board noted that in November, the developments of internal and external environment mainly corresponded to the directions, expected in the fourth quarter. The internal inflationary environment, reacting to the tendencies of international price reduction for foodstuffs and fuel, significantly eased, which was especially noticeable in reduction of prices for bakery goods and petrol.

CB Board believes that continuous mitigation of external inflationary pressures and the reaction of domestic prices will lead to significant decrease of the general level of inflation.

In the view of the fact, CB Board considers it expedient to mitigate the monetary-crediting conditions, contributing to preservation of high speeds of economy development.