Video: Inflation Will Remain at a Low Level in the Coming Months, Stepanyan

The Central Bank of Armenia conducts daily monitoring of the economy and financial markets, discussing various alternative scenarios for the future development of the economy. This was stated by Arthur Stepanyan, a member of the Central Bank of Armenia's Council, during a meeting with journalists today, March 20.

He recalled that the Central Bank reduced the refinancing rate to 5.25% on March 17, while many countries in our region have raised interest rates or left them unchanged. “It is clear that in this situation the role of monetary policy is limited, as it is not possible to influence real economic developments caused by health issues with this toolkit. However, it is important to continue maintaining macroeconomic stability, which will allow the government to more effectively implement targeted policies related to various sectors,” he said.

Arthur Stepanyan also added, “I can confidently say that inflation will remain at a low level in the coming months. When we look at external developments, we can record that we do not see any risks here.”