7 Apr 2010 12:02

CB unlikely to hike its deposit rates

MOSCOW. April 7 (Interfax) - The Central Bank of Russia is probably not going to raise its deposit rates, director of the Bank's financial markets department, and board of directors member, Sergei Shvetsov said during a MICEX conference on Wednesday.

"It is unlikely to be seriously discussed," Shvetsov said. Hiking rates on deposits to combat excess liquidity would provoke an even larger capital inflow, he said.

Shvetsov declined to comment on possible future Central Bank refinancing rate cuts.