UPDATE 1-Armenia central bank cuts refinancing rate, confident on inflation

June 28, 2016 3:06 PM

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YEREVAN, June 28 Armenia's central bank cut its refinancing rate to 7.5 percent from 7.75 percent on Tuesday and said inflation would return to its target, despite the South Caucasus country's current period of deflation.

Annual deflation in Armenia was 2.1 percent in May compared to deflation of 1.9 percent in April, according to central bank data. Monthly deflation in May was 0.7 percent compared to 0.3 percent deflation in April.

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