The central bank raised its refinancing rate by 25 basis points to 10.25% last Friday and said that financial institutions must hold more rouble and foreign exchange reserves as a proportion of their total liabilities at the central bank as of March.
The previous time the central bank raised its refinancing rate was in 1998, when it stood at 80%. Since then there have been 18 reductions,
- Central bank digital currency a ‘terrible idea’, US Congress told
- People: Olli Rehn enters office as Bank of Finland governor
- Trump criticises Fed over rate rises and threatens higher tariffs
- ECB’s easing policies reduced inequality, paper says
- Infrastructure financing not harmed by post-crisis reforms – FSB