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  Wednesday, June 26, 2019
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Russia's Central Bank will raise its refinancing rate from 10.5%
Russia's Central Bank will raise its refinancing rate from 10.5% to 10.75% on June 10, the bank said on Monday.

The refinancing rate is the rate, at which the Central Bank lends to commercial banks to maintain their liquidity.

This will be the third time the bank has raised the rate this year. Until February, the rate had seen a decade of consistent decline.

The bank will also increase other key rates by 0.25%.

Rates for loans secured by promissory notes will rise to 7.75% (up to 90 days) and 8.75% (from 91 to 180 days).

Asset-backed loans will have rates hiked to 9.75% (up to 30 days).

Rates for Lombard loans (for 1 day) will be increased to 8.75%, also for seven days if two preceding Lombard auctions are invalidated.

Rates for currency swaps (rubles, 1 day) will stand at 8.75% and for direct repo (fixed rate) for 7 days at 7.75% and 1 day at 8.75%.

Lombard auctions (minimum) rates for 14 days will be 7.75%.


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