Armenia’s monetary policy may soon be toughened through raising interest rates, Artur Stepanyan, Head of the Monetary Department, Central Bank of Armenia (CBA), told journalists March 12. Lower-rate price rise is expected from the 2nd quarter of 2011, he said.

Stepanyan pointed out a 6% rise in the FAO index this February. However, the more favorable tendencies have lately been registered in the international markets, and the price pressure is expected to ease.

Stepanyan said that the other relevant bodies should take measures to control prices.

He pointed out the high importance of the Government’s latest decision to amend the RA Law on Trade and Service and take administrative measures to control the price.