Refinancing rate remains at the level of 8%

Alfia Sharafutdinova

The refinancing rate remained unchanged at the level of 8% of interest per annum. The interest rates on operations of the Central Bank of Russia are also unchanged. The Central Bank’s Board of directors made such decision on the base of estimation of inflation risks and prospects of economic growth, its press-service reported.

According to the Central Bank’s information the annual inflation rates are still found on rather low level – 3,7% and the basic inflation lowered to 5,5%. The growth of industrial production goes up and high annual rate of the growth of investments to the fixed capital is still preserved.

“Dynamics of real wages and population crediting and low level of unemployment make favorable conditions for stability of consumer demand” – said in the Central Bank’s release.

The next gathering of the Central Bank’s Board of directors, where the problems of monetary and credit policy are to be considered, is planned to hold in the first half of May 2012.

#the central bank of russia #rates #inflation

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