Armenia’s Central Bank said on Tuesday it had raised the key refinancing rate to 6percent from 5.5 percent.

The rate of lombard repo is set at 7.5 percent, while the rate of raising funds is set at 4.5 percent.

In March, annual inflation accelerated to 5.8 percent amid recent global food inflation and depreciation of the dram currency. The government forecasts annual inflation to be in a range of 2.5 to 5.5 percent in 2021.