The Central Bank of Armenia left its key refinancing rate steady at 5.75 percent on July 30th 2019, saying inflation is expected to remain below the target in the coming months and then to stabilize in the mid-term period. Armenia's consumer price index declined 1.9 percent month-over-month in June while it increased 2.5 percent year-on-year, easing from a 2.8 percent rise in the previous month. The Board also added that high growth rates of economic activity are expected in the second quarter of the year, amid an increase in private consumption. However, the central bank noted that a stimulus will be needed and will soon pursue a policy of easing monetary conditions. Interest Rate in Armenia averaged 7.47 percent from 2010 until 2019, reaching an all time high of 10.50 percent in February of 2015 and a record low of 5.75 percent in January of 2019.
Interest Rate in Armenia is expected to be 5.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Armenia to stand at 5.50 in 12 months time. In the long-term, the Armenia Interest Rate is projected to trend around 5.50 percent in 2020, according to our econometric models.