14 September 2012

RUSSIA : Inflation Forces 25 Bps CBank Rates Rise.

http://www.bloomberg.com/news/2012-09-13/russian-central-bank-unexpectedly-raises-refinancing-rate.html

     Moscow's central bank raised all rates...by 25 bps...after inflation exceeded the target rate...between 5-6%.
     It was the first rate increase in 16 months.
     The refinancing rate is now 8.25%.
     Most major central banks are lowering rates to spur growth.