Russia's central bank on Friday retained its key interest rates, but reduced rates on currency swap transactions to improve ruble liquidity on the interbank market.
Bank Rossii maintained the benchmark refinancing rate at 8 percent as expected by economists. The fixed one-day repo rate was left unchanged at 6.25 percent and overnight deposit rate at 4 percent.
The rate on dollar-ruble swap deals will be lowered to 6.5 percent from 8 percent, with effect from June 18, the bank said.
Given the current domestic and external macroeconomic trends, the current level of money market rates is seen as appropriate for the coming months, the central bank said in a statement.
by RTT Staff Writer
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