YEREVAN.- A 12-month inflation by the end of this year is expected to make 4± 1.5% closer to the lower limit, says the refinancing protocol issued by the Central Bank of Armenia (CBA) on Thursday.

“The lower limit” most likely means the level of 2.5-3%.

During the August 9 session the CBA did not change refinance rate which made 8.5%.Despite optimistic forecasts, CBA council did not loosen monetary conditions due to risks and uncertainties of the world economy.

According to the National Statistical Service of Armenia, the rise in prices as of July made 6.3%.