Rate wait: Russia's main lender keeps benchmark unchanged at 8.25% on inflation fears — RT Business:
"The Central Bank of Russia (CBR) has decided against cutting their interest rate, instead deferring until inflation falls within target of 5 to 6 percent.
August marks the eleventh month the rate remains unchanged. In the official statement the CBR said, “the decision was based on the assessment on inflationary risks and perspectives for economic growth.”
"In July and at the beginning of August the rate of inflation declined, but remained above the target range and as of 5 August 2013 was estimated at 6.5% over a year ago,” the CBR said in justification of leaving the rate unchanged. "
'via Blog this'
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