Russia's Central Bank keeps rates on hold
2012-11-09 11:26:14
Russia's central bank on Friday decided to keep its key interest rates unchanged as inflation declined in October.
Bank Rossii maintained the key refinancing rate at 8.25 percent. The bank last lifted the rates by a quarter point in September.
Today, the central bank also maintained the short-term lending rate at 5.5 percent and the deposit rate at 4.25 percent.
The decision was made based on an assessment of inflation risks and the prospects for economic growth, the bank said in a statement. Further, it expects inflation to moderate due to the September's rate hike.
The bank said gross economic output remains close to its potential despite the slower economic growth seen in the second half of the year.