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Russian central bank provides banks with 20 million roubles at 1-year repo auction -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: The Central Bank’s Moscow headquarters is covered by a Russian state flag on March 29th, 2021. Sign reading “Bank of Russia” REUTERS/Maxim Shemetov

MOSCOW, Reuters – Monday’s repo auction saw the Russian central banks offer 100 billion roubles and 20 million roubles each to banks.

The repo (or repurchase agreement) auctions aim to boost banks’ liquidity management capabilities.

After the central bank increased its key interest rate 100 basis points, to 9.5%, on Friday, liquidity became more costly. The central bank indicated that an additional rate hike was possible.

($1 = 76.8625 roubles)

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