Armenian Central Bank Board on Tuesday meeting made a decision to reduce the refinancing rate for 0.25% and fix it at 5.25%, CBA press service reports.

In July 2009 compared to June deflation reached 2.7%, at that the annual inflation made 3.1%. According to CBA, July deflation was mainly conditioned by fall in prices for agricultural products: “Despite the price increase for nonfoods and services, inflation rate is stable”.

Under the current microclimate, CBA Board considers expedient to realize enlarged monetary management to assist the upsurge in economic activity, not endangering the stable prices.