Russia central bank holds rates

MOSCOW: Russian central bank kept its key interest rates unchanged on Monday, as expected, saying medium-term inflationary risks were boosted by a planned increase in public tariffs in July.

The central bank held its refinancing rate at 8 percent, fixed one-day repo rate a de facto ceiling for money-market rates at 6.25 percent, and its overnight deposit rate at 4 percent.     

The central bank also said it was introducing a new one-week deposit rate at 4.75 percent "to reduce volatility in money market rates and increase the effectiveness of interest-rate policy."   

The next policy meeting will be held in the first half of May, the bank said.