Yerevan /Mediamax/. Board of the Central Bank (CB) of Armenia made a decision to decrease refinancing rate by 0.5 percentage points and establish it at the level of 5.5%.

Mediamax was informed in the press service of the Armenian CB that in June, 2009, as compared to May, 0.3% deflation is registered, in conditions of which inflation in 12 months made 3.6%, the figure being 1 percentage point lower than the level, forecasted by the Central Bank.

CB Board established that growth of prices for certain types of goods in the world market in conditions of stable exchange rate of the national currency influences also the domestic prices for the given goods. Nevertheless, in conditions of high speeds of economic decline, which significantly exceeds the forecasted level, low inflation environment has been formed in the domestic market.

CB Board considers expedient to continue decrease of rates given simultaneous active realization of expansive monetary-credit policy.