OREANDA-NEWS. June 29, 2009. The Bank of Russia is mulling a refinancing rate cut, PM Vladimir Putin confirmed that at a meeting with leaders of parliamentary groups. The head of the government was pleased to state that CBR managed to cut the refinancing rate.

“The Bank of Russia is considering further refinancing rate cuts”, he said stressing that as a result of anti-crisis measures authorities have managed to boost banking system liquidity. Putin reiterated that international currency reserves amount to USD 407 bn. “The Bank of Russia has been placing them cautiously without damaging national interests”, he stressed.