MOSCOW, July 5 (RIA Novosti) - The Central Bank of Russia could further reduce its refinancing rate this year if inflation slows down, the bank's chief said Wednesday.
"We are thinking about that [about reducing the refinancing rate]. This will be difficult but possible if inflation slows down," Sergei Ignatyev said.
Ignatyev said the CBR had cut the refinancing rate from 13% to 12% at the end of 2005 and to 11.5% in June 2006 to reduce borrowing costs and make loans more affordable.
