Armenia's cuts refinancing rate to 7.50 pct from 7.75 pct

YEREVAN Tue Feb 11, 2014 7:38am EST

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YEREVAN Feb 11 (Reuters) - Armenia's central bank cut its key refinancing rate to 7.50 percent from 7.75 percent on Tuesday after data showed a decline in annual inflation.

Annual inflation was 5.5 percent in January, the central bank said, down from 5.6 percent recorded in December. That is within the government's target range of between 2.5 percent and 5.5 percent for 2014.

Monthly inflation in January was 2.8 percent, compared to inflation of 1.1 percent in December.

The central bank cut its refinancing rate to 7.75 percent from 8.00 percent in December. (Reporting by Hasmik Mkrtchyan; Writing by Margarita Antidze; Editing by Thomas Grove)