Russian central bank keeps rates on hold

by Reuters
Friday, 14 March 2014 09:42 GMT

MOSCOW, March 14 (Reuters) - The Russian central bank kept its key lending rates unchanged at a regular meeting on Friday, after unexpectedly raising them two weeks ago when assets tumbled on President Vladimir Putin's declaration he had the right to invade Ukraine.

The one-week repurchasing agreement rate was kept at 7 percent, after the central bank hiked it by 150 basis points on March 3 to stem capital flight from Russia.

"The Bank of Russia's priority is to contain the effect of (the rouble's) exchange rate dynamics on inflation and to maintain financial stability," the central bank said in a statement.

"Hence, the Bank of Russia does not intend to lower the key rate in the coming months."

Latest News
Comments Close
Russian central bank keeps rates on hold

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of the Thomson Reuters Foundation. For more information see our Acceptable Use Policy.

comments powered by Disqus