The central bank has not changed the refinancing

Board of Directors of the Central Bank decided to leave unchanged the refinancing rate, which on Feb. 28 was set at 8% per annum. However, an increase from 1 April 2011 subject to the obligation of banks to non-residents by legal entities from 4,5% to 5,5%, while liabilities to individuals from 3.5 to 4% per annum. "This decision was taken due to persistence of high inflation expectations and risks to the sustainability of economic growth, as well as the unstable situation in global financial and commodity markets, whose development may have on the Russian economy is ambiguous effect»,