Central Bank cuts refinancing rate, key money market rates 0.25 p.p.
MOSCOW. Dec 28 (Interfax) - The Central Bank of Russia reduces the refinancing rate and key money market rates 0.25 p.p. effective December 28.
The refinancing rate will decline to 8.75% from 9% currently.
The minimum rate at one-day repo auctions has been cut to 6.0%.
Russia had 0.4% inflation in the period December 1-21, the Central Bank said in the commentary accompanying the rate cut announcement. Inflation for the preceding 12 months was 9% on December 21 compared with 13.5% on that day last year.
Interest rates on Central Bank operations (%)
|Term||From 25.11.09||From 28.12.09|
|Lombard auctions (minimum rate)||14 days||6.25||6|
|Direct repo (minimum rate)||1 day||6.25||6|
|Forex swaps (ruble portion)||1 day||9||8.75|
|Lombard loans (fixed rate)||1 day||8||7.75|
|Direct repo (fixed rate)||1 day||8||7.75|
|Loans secured with non-market assets or guarantees (fixed rate)||Up to 90 days||8||7.75|
|From 91 to 180 days||8.5||8.25|
|From 181 to 365 days||9||8.75|
|Deposit operations (fixed rate)||Tom next, spot-next, demand||3.75||3.5|