The Central Bank reduced the discount rate to 3.5%
CBA decided to reduce c 30 July the discount rate from 4.25% to 3.5%.
According to the chief regulator, another innovation - a decrease from July 31 (today) the upper limit of the interest rate corridor from 6 to 5% lower - from 0.5 to 0.1%. At the same time, reserve requirements on all deposits reduced from 3 to 2%.
"The decision was made taking into account the low level of inflation, money supply growth to diversify the economy and increasing the volume of investment real sector growth in lending activity and provide the necessary support to economic growth", - the report says.
The last time the CBA's decision on the rate was decreased 1 May 2014 (from 4.75 to 4.25%). The upper boundary of the interest rate corridor from May 1 was 6% (previously - 7%), lower - 0.5% (previously - 1%). - 17D-
Economics
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