The CBA cut the refinancing interest rate to 5,5%, CBA press service informed NEWS.am. In June 2009, compared to May this year the deflation of 0,3 % was registered, that resulted in the annual 3,6 % inflation rate against over 4% forecasted.

The international price increase for some commodities influenced the domestic prices with the exchange rate of national currency being stable, the participants of the CBA Council meeting outlined. It was also stated that despite the global economic recession, exceeding the forecasts, domestic market of Armenia has quite low inflationary environment. CBA Council members consider reasonable to continue reducing the rates with simultaneous active expansionary monetary policy.