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Central Bank of Russia keeps refinancing rate at current level

March 13, 2012, 19:53 UTC+3

Now, the Bank’s refinancing rate is established at the level of eight percent

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MOSCOW, March 13 (Itar-Tass) —— The Board of Directors of the Central Bank of Russia has made a decision to keep unchanged the refinancing rate and interest rate on the Bank’s transactions, the Bank’s Department of External and Public Relations said in a report on Tuesday.

Now, the Bank’s refinancing rate is established at the level of eight percent.

The decision was made on the basis of the analysis of the inflation risks and prospects for the economic growth with due account of the continued uncertainty in the development of the foreign economic situation, the bank wrote in the statement.

According to the document, with due account of the current internal and external macroeconomic trends, the Central Bank considers the effective rates as acceptable for the next few months. Therefore, the bank will continue monitoring the monetary market situation, including against the background of the continued slowdown of the credit activities on the global financial markets, the statement wrote.

The next meeting of the Central Bank’s Board of Directors is scheduled for the first ten days of April. During the meeting, the Board members will consider the most topical aspects of the monetary and credit policy.


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