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Bank holds refinancing rate steady

Jul 21, 2010
From wire reports

RIGA - The Bank of Latvia kept its benchmark refinancing rate unchanged after lowering it three times in the last 16 months, reports Bloomberg. The rate was held at 3.5 percent, said Governor Ilmars Rimsevics. The central bank cut its seven-day deposit rate by half a percentage point to 0.5 percent, and lowered the overnight deposit rate to 0.375 percent from 0.5 percent to spur lending in the economy. The bank has cut the main rate a total of 2.5 percentage points since March 2009. Latvia ...

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