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Russia Central Bank Keeps Rates Steady

Russia's central bank on Tuesday maintained its key interest rates unchanged as expected and said that the current interest rate corridor is appropriate for the months ahead.

Bank Rossii left its refinancing rate unchanged at 8 percent. The rate was lowered by a quarter point in December, which was the first reduction in rates since 2010.

The overnight deposit rate was maintained at 4 percent and the repurchase rate at 5.25 percent. The one-day repo rate was retained at 6.25 percent.

The assessment of inflation risks and economic growth prospects support the rate decision, the central bank said.

by RTT Staff Writer

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