Arab Today, arab today russia\s central bank holds rates
Last Updated : GMT 06:58:51
Arab Today, arab today
Arab Today, arab today

Russia\'s Central Bank holds rates

Arab Today, arab today

Arab Today, arab today Russia\'s Central Bank holds rates

Moscow - Arabstoday

Russia’s central bank left key interest rates unchanged on Tuesday and said the current spread between lending and deposit rates was appropriate, suggesting it is still concerned a record slowdown in inflation may be temporary. A rate cut, however, is likely to be in the pipeline later this year as a more accommodative policy may be needed to boost lending, internal demand and economic growth as a whole. The central bank left the refinancing rate, or the cost of overnight loans from the central bank, at 8 per cent and the fixed one-day repo rate, the effective ceiling for interbank money market rates, at 6.25 per cent. The deposit rate, the key influence on borrowing costs at times of excessive liquidity, was also left unchanged at 4 per cent. The central bank said in an accompanying statement that real money market rates, which hover within the central bank’s corridor, are reasonable and had justified the decision. “The decision is made on the back of an assessment of inflationary risks and the economy’s growth prospects, given the continued uncertainty over developments in the external economic environment,” the bank said. The decision was widely expected by the market after policymakers signalled a month earlier they were satisfied with current rates. The rouble showed no immediate reaction, trading at 29.53 per dollar by 0905 GMT. The stock market retained early gains, with the dollar-based RTS index up 0.9 per cent and the MICEX rouble-traded index adding 0.4 per cent on the day. INFLATION Analysts expect the bank will ease monetary policy cautiously later this year to support the economy, with gross domestic product growth slowing to 3.9 per cent in January from 4.3 per cent in the whole of 2011. The PMI index showed growth in Russian manufacturing continued to slow in February, while growth in activity across service industries slowed from a six-month high. Inflation hit a new post-Soviet low of 3.7 per cent year-on-year in February, remaining well below the central bank’s full-year target of 5 to 6 per cent. But inflationary risks are not fully contained.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today russia\s central bank holds rates Arab Today, arab today russia\s central bank holds rates

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today russia\s central bank holds rates Arab Today, arab today russia\s central bank holds rates

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday