Reuters: Financial Services and Real Estate: UPDATE 1-Armenian c.bank holds interest rate; says may cut

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UPDATE 1-Armenian c.bank holds interest rate; says may cut May 8th 2012, 13:20 Tue May 8, 2012 9:20am EDT YEREVAN May 8 (Reuters) - Armenia's central bank kept its key refinancing rate unchanged at 8.0 percent on Tuesday, signalling a possible cut in borrowing costs if inflation eases further. The annual inflation rate slowed to 1.0 percent in April from 2.2 percent in March, the bank said, below the government's target range of 2.5 to 5.5 percent. Month on month, prices declined 0.6 percent after rising 0.1 percent in March. The base rate, which has been at 8 percent since September, was "still neutral for the inflationary environment," the bank said in a statement. But if current economic trends continued, projected inflation would be at the lower level of the government forecast. "In this case the Central bank council may consider easing monetary policy," it added. The rate decision also followed a parliamentary election win on Sunday's by President Serzh Sarksyan's Republican Party. (Reporting by Hasmik Mkrtchyan; writing by Vladimir Soldatkin; Editing by John Stonestreet)

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