Yerevan /Mediamax/. Board for the Central Bank (CB) of Armenia decreased the refinancing rate for 0.25 percentage points, establishing it at the level of 7.50%.

As Mediamax was told in the press service of CB, the Board noted at the session on April 7 that in March, 2009, as compared to February, inflation at the volume of 1.4% is registered, in conditions of which the 12-month inflation as compared to the previous month did not change, making 1%.

CB Board established that despite March devaluation of AMD, as a result of reduction in the global demand and fall of prices in the world market, also as a result of continuing decline in domestic demand, inflation turned out to be lower than the forecasted level.

Members of the CB Board were unanimous as to the opinion that in conditions of the formed and forecasted macroeconomic developments, reasonable comparison of tasks to preserve the target level of inflation and assist economic activity provides for realization of an expansive monetary-credit policy. In this concern, CB Board considers most effective the combination of reduction in rates and expansion of crediting volumes.