Armenia’s Central Bank has lowered the refinancing interest rate from 7.75% to 7.50%. This marks the sixth rate reduction in 2024, following a previous drop of 9.25%.
The Central Bank’s refinancing rate influences the deductible interest on loans from non-banking and financial institutions. This deduction is capped at the point where the interest rate surpasses twice the Central Bank’s interest rate.
The interest rates were 8.75% on 30 January 2024; 8.50% on 12 March 2024; 8.25% on 30 April 2024; 8.0% on 11 June 2024; and 7.75% on 30 July 2024.