Regulatory Alerts2025-11-04 | 9105Central Bank of Armenia Executive Monetary Policy Statement November 2025
The Board of the Central Bank of Armenia decided on November 4, 2025, to maintain the refinancing rate unchanged at 6.75% to manage macroeconomic risks amid global uncertainty. The decision balances persistent inflationary pressures, including rising US neutral rate risks and geopolitical tensions, against weakening global demand and domestic economic acceleration driven by construction and services. While market expectations anticipate a gradual rate reduction to 6.25-6.50% over the next twelve months, the Board affirmed its commitment to achieving the 3% medium-term inflation target through appropriate policy actions.
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