The Bank of Russia lowers refinancing rate to 8,5%

The Department of Foreign Relations of the Bank of Russia informed about the decision to reduce the refinancing rate to 0.25% from February 24 this year - to a level of 8.5%. Similarly, decreasing the rate on overnight loans by 0.25 percentage points - to 8.5% per annum. Dropped and the existing fixed rate on Lombard loans at 0.25% and set new ones: for a period of one calendar day - 7.5% per annum for a period of seven days - 7.5% per annum for a period of 30 calendar days - 7.5 % per annum. Fixed rates on repurchase agreements decreased by 0.25%, namely, for a period of one day - 7.5% per annum for a period of one week - 7.5% per annum for a period of one year - 8.25% per annum. In fact, reducing the refinancing rate to 0.25% in the Bank of Russia to explain the favorable dynamics of the consumer price index and the absence in the near future risks of accelerating inflation. It is noteworthy that in March will be a regular meeting of the Board of Directors of the Central Bank, which will consider the question of interest rates. It is likely that in March we are waiting for the next rate cut.