Yerevan/Mediamax/. Armenian Central Bank Board made a decision to leave the refinancing rate unchanged at the level of 7.25% at today’s session.

Mediamax was informed in the press service of CB that inflation at the volume of 1.6% was registered in November, 2010, as compared to October, as a result of which the index of 12-month inflation increased by 0.5 percentage points, making 9.6%. The board stated that the high level of 12-month inflation is still conditioned by the price growth for agricultural and food production in international markets.

CB Board also believes that secondary influences of inflations become more intense, conditioned by the factors of the offer and inflationary expectations, which can play a significant role in establishment of inflation environment.

Despite the fact that slow renewal of aggregate domestic demand establishes no inflation pressure so far, nevertheless the Board believes that in terms of the forecast prospect inflation will not be within the target interval. In terms of above mentioned factors, CB Board believes that further toughening of monetary-credit policy is likely.