On 12 December 2023, the Central Bank of Armenia reduced the refinancing interest rate (key rate) from 9.5% to 9.25%. This follows a reduction in the rate from 10.75% to 10.5% on 13 June 2023, 10.25% on 1 August 2023, 9.75% on 12 September 2023, and 9.5% on 31 October 2023. For taxpayers, the rate affects the amount of deductible interest on loans provided by entities other than banking and fi…