As a lender of last resort, the CBRT can borrow from or lend to the markets. The CBRT sets the interest rates to influence markets.
Interest rate decisions are taken at Monetary Policy Committee meetings based on a pre-announced schedule.
These decisions, together with their rationale, are posted on the CBRT website the same day.
- Central Bank overnight borrowing and lending rates would be determined at 150 basis points below/above the one-week repo rate,
- Central Bank borrowing rate for Late Liquidity Window operations would be 0 percent whereas the lending rate for these operations would be determined by adding 150 basis points to the CBRT’s overnight lending rate.