Latvia leaves rates unchanged

The Bank of Latvia decided on 13 September to leave key interest rates unchanged, with the refinancing rate remaining at 6%, overnight loans at 7.5% and the overnight deposit rate at 2%.

A spokesman for the central bank said that the council's decision was because its plans to curb inflation are just beginning to work. Lending is slowing down and real estate prices are steadying, and the central bank expects this trend to continue.

The last time the Bank of Latvia raised the refinancing rate wa