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EconGrapher (< 20)

Central Bank of Russia Raises Overnight Deposit Rate 25bps to 3.50%



May 30, 2011 – Comments (0) | RELATED TICKERS: RSX , XRU.DL

The Central Bank of Russia increased its fixed overnight deposit rate by 25 basis points to 3.50% from 3.25%.  The Bank held the benchmark refinancing rate unchanged at 8.25% and the overnight auction-based repurchase rate at 5.50%, while also leaving reserve requirements unchanged.  The Bank said: "This decision was taken keeping in mind the high level of inflationary expectations and risks for sustainable economic growth,". 

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