The Board of Directors of the Russian Central Bank has decided to keep
the refinancing rate unchanged at 7.75%. Rates of other operations
will not undergo changes either, the department of external and social
relations of the bank said on Friday, RIA Novosti reports.
The bank believes that inflation risks, driven by monetary conditions,
are at an acceptable level, the release says.
The Central Bank considers issues of the rate policy every month. For
the sixth time in a row the bank has kept the rate unchanged. In June
the bank concluded the process of reducing the rate, starting in April
2009. The refinancing rate was reduced 14 times in this period, from
13% to 7.75%.
The bank’s decision meets the forecasts of the analysts of RIA
Novosti, who have been anticipating the freezing of the rate over the
last months.
