Yerevan/Mediamax/. Central Bank (CB) of Armenia made a decision at its session today to leave the refinancing rate unchanged at the level of 8.5%.

Mediamax was informed in the press service of CB that in April 2011, 0.2% deflation was registered, in conditions of which the 12 months’ inflation reduced by 2.6 percentage points, making 8.9%.

The Board established that despite maintenance of uncertainty, price stabilization tendency was observed in world foodstuffs and raw material markets.

The Board believes that the expected influence of internal economic developments on the aggregate demand is mostly of neutral nature. At the same time, the current weather conditions and measures in agricultural sector create prerequisites for decrease of prices for local foodstuffs.

CB Board believes that the above-mentioned and the toughening of the monetary-credit policy from the beginning of the year will contribute to fast decrease of inflation from the second half of the year and down to the target interval of 4%±1.5 percentage points.