MOSCOW (Reuters) – The Russian central bank said on Monday it had provided banks with 20 million roubles ($260,205) at a one-year repo auction, having offered 100 billion roubles.
Repo, or repurchase agreement, auctions are designed to increase banks’ capacity to manage their liquidity.
Liquidity at such actions became more expensive after the central bank raised its key interest rate by 100 basis points to 9.5% on Friday. It indicated that a further rate increase was likely.
($1 = 76.8625 roubles)
(Reporting by Elena Fabrichnaya; Writing by Alexander Marrow; Editing by Maria Kiselyova)
