On March 4, 2016, the Central Bank set the discount rate at 7%, upper limit of the interest rate corridor on liquidity operations at 17%.
Lower limit of the interest rate corridor on liquidity operations remained unchanged at 2%.
At the same time, it was decided to extend the period for operations of conferring and involving liquidity with the interest rates with upper and lower limit from 1 day to 7 days. For management of short-term liquidity, the banks may use Central Bank’s 1-7-day repo/reverse repo operations with their own initiatives. Moreover, decisions on differentiation of rate of mandatory reserves have been passed, regulatory framework has been elaborated.
Central Bank has set the discount rate at 5% since February 15, 2016.
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