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    Bank of Armenia raises annual REPO rate to 4.5%

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    YEREVAN, August 31 (RIA Novosti) - Armenia's central bank said Thursday it will raise its annual refinancing rate (REPO) by .25 percentage points to 4.5%, starting September 1.

    In January 2006, the Bank of Armenia adopted a new inflation regulation policy - targeting - to curb inflation by changing interest rates, including the key REPO rate.

    Armenia has experienced strong economic growth since 1995, and inflation has been almost nonexistent for the past several years, standing at 0.6% in 2005.

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