Yerevan /Mediamax/. The Board of the Armenian Central Bank made a decision to decrease the refinancing rate by 0.5 percentage points establishing it at the level of 8.0% at today’s session.

0.6 % deflation was registered in August 2011 which resulted in the 12-month inflation decrease by 1.5 percentage points against July index, making 4.8% and thus returning to the permissible interval of 4%±1.5 percentage points, Mediamax was told in the CB’s press service.

The CB Board stated that external economic signals currently have a neutral impact on the inflationary environment though the prospects in the global economy are still unclear which is connected with the fundamental imbalance of the developed countries.

The Board thinks that the impact exerted by the internal demand on the inflationary environment currently contributes to its reduction: the impact exerted by private expenditures is assessed as neutral and the tax-budgetary policy impact is restraining.

The Board concluded that the weakening of the monetary-crediting policy will allow forming inflation within the targeted interval simultaneously establishing additional stimuli for the economic activity growth.