Apr 28
Russia: Central bank tightens monetary conditions further
The Russian central bank (CBR) has said today that it has raised all of its interest rates to deal with RussiaÂ’s rising inflation. Most importantly, the CBR has raised the floor for its one-day repo rate, the CBRÂ’s key refinancing tool, to 6.50% from 6.25%. Furthermore, the CBR lifted its rarely used refinancing rate, which serves as a ceiling for all official interest rates, to 10.50% from 10.25%. Short-term deposit rates were raised to 3.25% from 3.00%.
