Central Bank of Russia Remained Refinancing Rate Unchanged 7,75%

Board of Directors of the Central Bank of Russia upheld the refinancing rate on the level of  7,75% - and other rates on its operations against the background of slowing inflation and an acceptable level of inflation risks in the coming months.

The Central Bank in June completed a cycle of declining rates started in April 2009) . During this period the refinancing rate decreased 14 times - up to 7,75% from 13%.