In Armenia, interest rate decisions are taken by the Central Bank of Armenia. The official interest rate is the Refinancing Rate.
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The Central Bank of Armenia kept its benchmark interest rate unchanged at 6.5% during its January 2026 meeting. Policy makers also kept the deposit and lending rates steady at 5% and 8%, respectively. The decision reflected a balance between inflationary pressures and economic demand, as annual headline inflation rose to 3.3% in December from 3.1% in the prior month, remaining below the Central Bank’s 4% target, while core inflation stood at 4.3%. The board noted that domestic economic activity remained robust, supported by growth in construction and services as well as temporary factors in manufacturing, though medium-term risks persist. In view of these conditions, the board opted to maintain a steady policy stance to manage both inflationary pressures and factors that could dampen growth, while supporting stability around its 3% medium-term target.
