OREANDA-NEWS. February 10, 2009. The Bank of Russia, as promised, has raised its main rates on credit and deposit operations by 1% in order to relieve pressure on the ruble. The main rate to provide bank liquidity, the minimum intraday auction repo rate, was increased effective today to 10.0% from 9.0%.

As a matter of fact, since January 30 the weighted average intraday auction repo rate has been above 10%. CBR’s refinancing rate, currency swap rate in rubles and intraday rate remained at 13%. Effective February 10, rates on lombard loans, loans secured by assets and guarantees and fixed-term repo rate will rise. Deposit rates were also hiked by 1%. Minimum rates on liquidity provision operations were also raised by 1%.