19:12, 7 April 2009 Page views 311 views

Russia's Central Bank should Reduce Refinancing Rate

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According to the President of Association of Russian Banks (ARB) Gagerin Tosunyan, Russian banking community will insist on reducing of refinance rate to increase credits’ availability. “We’ll make a proposal to Central Bank of the Russian Federation about smooth reduction of the rate. It is necessary measure in credit risks conditions”, he said.

Speaker of The Federation Council Sergey Mironov also confirmed that Russian monetary policy should be changed for credits’ availability, and antitrust policy totally must be reconsidered. He is sure that economic development is impossible with current credit rates.

Russian banking community also supports measures of refinance rate’s reduction. In its turn, officials of Central Bank of the Russian Federation declared that the CB is not ready to reduce the rate.



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