Russian cbank leaves key rate unchanged at 8.25%

Russia’s central bank has kept its key refinancing rate unchanged at 8.25 percent, but will raise deposit rates by 0.25 percentage points and cut some rates to provide liquidity, also by 0.25 percentage points, effective on Thursday, the regulator said on Wednesday.

“The decision was taken on the basis of inflationary risks and risks to a sustainable economic growth, including the persistent uncertainty of the external economic situation, the current money market environment and factors that influence banking liquidity,” it said in a statement.

Helped by lower food prices and diminished inflationary expectations, Russia’s inflation is slowing, with prices rising 8 percent as of September 5 compared with 9 percent in July.

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