The Russian Central Bank has raised the key rate (interest rate of loans for commercial banks) from 10.5% to 17%, motivating its decision by prevention of devaluation and inflation risks. The floating rate, totaling the key rate +1.75% for non-market assets, appeared for 2 to 549 days, starting on December 16, 2014.
Interest rates for specialized refinancing instruments were left unchanged at several percentage points below the key rate. The maximum volume of finances available for REPO auctions in the foreign currency for 28 days was raised from $1.5 billion to $5 billion. The operations will be carried out every week for a year.
The Russian Central Bank has raised the key rate (interest rate of loans for commercial banks) from 10.5% to 17%, motivating its decision with prevention of devaluation and inflation risks. The floating rate totaling the key rate +1.75% for non-market assets appeared for 2-549 days, starting on December 16, 2014.Interest rates for specialized refinancing instruments were left unchanged at several percent below the key rate. The maximum volume of finances available for EPO auctions in the foreign currency for 28 days was raised from $1.5 billion to $5.0 billion. The operations will be carried out every week throughout a ye
