Central Bank Lending Auction Injects $10Bln into Banking System | Business | The Moscow Times:
"The Central Bank drew modest demand at a one-year lending auction earlier this week, boosting expectations of impending cuts in main policy rates to shore up the slowing economy.
The auction of one-year loans secured against nonmarket assets and guarantees was the first under a new mechanism for long-term bank funding announced earlier this month.
The bank injected 306.8 billion rubles ($9.34 billion) of one-year funds into the banking system at a cut-off rate of 5.75 percent. It had offered up to 500 billion rubles."
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