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Important notification

On 13 September2022 the Board of the Central Bank of Armenia made a decision to increase the refinancing rate by 0.5 percentage points, setting it at 10%.

Thus, the cumulative increase of the refinancing rate since the AMD Base rate last review done on 28 March 2022 has totalled to 2 percentage points, which, is a trigger for AMD Base rate review.

Simultaneously, conducted market research results reveal that the continuous increase of refinancing rate throughout 2022 has resulted in interest rate increase in the market. 

Aiming to respond to refinancing rate increase, which is mostly driven by inflationary pressures in the market, the Bank has decided to increase the value of refinancing rate component of AMD Base rate and set it at 10.0%.  At the same time, taking into account that market interest rate increase isn’t in line with refinancing rate increase, it was decided to decrease the fixed margin component value to 0%. Thus, as a result of the Base rate component review, the AMD Base rate has been increased by 0.5 percentage points from 9.5% to 10.0%.

AMD Base rate review date 31 October, 2022. 

Effective date 15 December, 2022.

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