Negative rate on FX deposits to be set in Russia?

Negative rate on FX deposits to be set in Russia?

Russia’s central bank is studying the possibility of setting negatives rate on forex deposits, but no decision has been made, the central bank’s financial stability department chief Elizaveta Danilova said at the Fitch Ratings conference in Moscow.

The regulator said later that the central bank had examined proposals from several banks on negative interest rates, Interfax reported.

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