The Bank of Russia toughens rules. The effect will not be soon

Banks Finansy01-09-2008 Bank of Russia has tightened the rules. The effect will not be soon the Bank of Russia tightens monetary policy. At the sight of his efforts - to contain inflation. However, these measures alarming investors, and the anti-inflationary effect should be expected in until next year. From 1 September the Bank of Russia raises standards contributions to the fund of obligatory reserves (CDF) of liabilities to non-resident banks in rubles and foreign currency deposits to 8.5% from 7% for the obligations of lending institutions to individuals in rubles - to 5 5% to 5% for other liabilities of credit institutions in the Russian currency and liabilities in foreign currency - up 6% from 5.5%. Simultaneously, the averaging factor for the calculation of the average value of required reserves increased from 0,5 to 0,55. Increasing statutory transfers to the CDF is intended to reduce the rate of growth of money supply and create conditions for the deceleration of inflation, says Bank of Russia. This year is the third raise standards for Faure, before the Central Bank raised them in March and July, Interfax reports.