RIGA (Thomson Financial) - The council of the Bank of Latvia decided on Thursday to leave refinancing rates unchanged at the 6 pct level, the president of the bank said. Other interest rates have remained unchanged as well. As a result, the rate on overnight loans is to stay at 7.5 pct and the overnight deposit rate has remained at 2 pct.
The Bank of Latvia last raised the refinancing rate during the council session in May. The council of the bank decided at the time to raise the refinancing rate by 0.5 percentage points, while the rate on the overnight loans rate was raised by one percentage point.
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