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The Central Bank of Armenia decided to maintain its benchmark interest rate at 6.5% during its January 2026 meeting. Additionally, policymakers held the deposit and lending rates steady at 5% and 8%, respectively. This decision was influenced by a need to balance inflationary pressures with economic demand. In December, annual headline inflation increased to 3.3%, up from 3.1% in the preceding month, but it remained below the Central Bank's 4% target. Core inflation was recorded at 4.3%. The board highlighted that domestic economic activity continued to be strong, driven by growth in construction and services as well as temporary factors in manufacturing. However, medium-term risks still persist. Considering these conditions, the board decided to maintain a steady policy stance to address inflationary pressures and potential growth-inhibiting factors, while ensuring stability around its 3% medium-term target.
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