Russian reserve requirements cut to 0.5%

The Central Bank of Russia on Tuesday slashed its reserve requirements to 0.5%, a move which analysts say could add $2.7 billion-worth of liquidity into the system.

The central bank cut all three of its reserve requirements: on credit institutions' liabilities to non-resident banks in roubles and foreign currency, on liabilities to individuals in roubles, and on credit institutions' other liabilities in roubles and foreign currency to 0.5% from 4.5%, 1.5% and 2% respectively.

Reuters, a news

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