28.12.05

The Bank of Russia has lowered its refinance rate* from 13% to 12% annual. The change was announced by the Public Relations Department of the Bank of Russia on December 23rd, 2005 and became effective on December 26th.

The decision to lower the rate was made by the board of directors of the Central Bank.

Note: The refinance rate in Russia is the rate prescribed by the Central Bank to commercial credit banks for lending consumer credit.