CB directors to address refinancing rate next week
MOSCOW. April 20 (Interfax) - The board of directors at the Central Bank of Russia may well take up the refinancing rate question at a meeting next week, but a cut may not be in the offing, deputy CB chief Gennady Melkyan told the press.
"We'll address it before the end of the month, but it is not a fact that there will be any decision to change it," Melkyan said in regard to the refinancing rate.
"I have always been for cutting it, but I worry that there is so much liquidity now that it will spill over," he said. The low MosPrime rate testifies to that high liquidity, he said.
The board meets on a monthly basis to address rates, "but no one knows what will be," he said. The board of directors will not be meeting this week, he added.