Rus News Journal

The Central Bank has raised the refinancing rate

the Central Bank of the Russian Federation raises from now on the rate of refinancing from 10,75 % to 11 %. The previous increase of the rate of refinancing from 10,5 % to 10,75 % of the Central Bank of the Russian Federation has carried out since June, 10th 2008.
Besides it, the Bank of Russia has raised the rate under the credit overnight from 10,75 % to 11 % annual.
rates on depositary operations also are raised: on standard conditions tom - next spot/ next under deposits poste restante ( call deposit ) - From 3,5 % to 3,75 % annual; on standard conditions 1 week spot/ 1week - about 4 % to 4,25 % annual.
under transactions a currency swap for a period of one day (a rouble part) rates are raised from 8,75 % to 9 % of the annual.
Besides, the Central Bank of the Russian Federation has established new rates on operations direct REPO (base interest rates on operations of the return repayment of securities) under the fixed rate for 7 days - at a rate of 8 % annual, for 1 day - at a rate of 9 % annual.
the minimum interest rates on operations of granting of liquidity in the open market are changed also: on operations direct REPO for 1 day - 7 % annual; on operations direct REPO for 7 days - 7,5 % annual; on operations of pawn crediting for 2 weeks - 8 % annual.
Besides it, the Bank of Russia has raised rates under the credits provided with pledge of bills, the requirement rights under credit contracts of the organisations or guarantees of the credit organisations, given according to position of the Central Bank of the Russian Federation from 14. 07. 2005 N273 - P.Stavka for the term up to 90 calendar days is raised from 7,75 % to 8 %; for the term from 91 till 180 calendar days - from 8,75 % to 9 % annual.
under credits of Bank of Russia, provided with the actives, given for the term up to 30 calendar days inclusive according to position from 12. 11. 2007 N312 - P, the rate is raised from 9,75 % to 10 % annual.
we will add that the Bank of Russia has carried out the increase of the rate of refinancing first almost for 10 years since February, 4th 2008. The rate has been raised from 10 % to 10,25 %, and since April, 29th 2008. It has been raised from 10,25 % to 10,5 % annual. Before, since July 1998., the Central Bank only lowered the refinancing rate, last fall has been spent on June, 19th 2007. When the rate has been lowered from 10,5 % to 10 %.