Central Bank of Russia Raises Overnight Deposit Rate 25bps to 3.50%
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,".
Full Story: http://www.centralbanknews.info/2011/05/central-bank-of-russia-raises-overnight.html