Central Bank of Russian board to hold rate-setting meeting Jan 15
MOSCOW. Jan 10 (Interfax) - The board of directors at the Central Bank of Russia will meet to discuss interest rates on January 15, the bank's external and public relations department said.
The CBR raised fixed-term deposit operations by 0.25 percentage points and reduced the interest rate on the ruble leg of the Bank of Russia FX swap transactions by 0.25 pp effective December 11. The CBR kept the key refinancing rate on hold, at 8.25%.
The CBR is not at this point planning any further narrowing of the interest rate corridor for its operations in providing and absorbing liquidity, CBR Chairman Sergei Ignatyev said in the middle of December.
The CBR is unlikely to alter interest rates at its meeting in January, CBR First Deputy Chairman Alexei Ulyukayev told Interfax on December 20. "We don't think a decision will be needed to alter rates at the January meeting," he said. However "if something suddenly happens in the global economy, we'll make the decision that needs to be made. Any central bank will act as it should act in there is an extreme development," Ulyukayev said.
