Yerevan /Mediamax/. Board of the Central Bank (CB) of Armenia made a decision to decrease refinancing rate by 0.25 percentage points and establish it at the level of 5.25%.

Mediamax was informed in the press service of the Armenian CB that in July, 2009, as compared to May, 2.7 % deflation is registered, in conditions of which inflation in 12 months made 3.1%, preserved at lower bound of target level.

CB Board stated that expectations for the world economicy improvement are accompanied by a certain growth of prices for feedstock. "At that, July deflation was essentially conditioned by seasonal decline in prices for agricultural production. In this condition, despite growth of prices for non-food goods and services, inflation was preserved at stable level", CB Board stated.

In conditions of formed macroclimate, CB Board of Armenia considers expedient to implement expansive monetary-credit policy, which will contribute to activization of economicy, without endangering price stability.