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Refinancing Rate Increases

Russia’s refinancing rate will rise 0.5 percentage points to 8.25 percent by the end of this year as higher domestic debt issuance and a declining current-account surplus push up inflation, Alfa Bank said Thursday.

The lender also raised its 2010 inflation forecast to 8.6 percent, from a previous prediction of 7.5 percent, chief economist Natalya Orlova wrote in a research note. 

(Bloomberg)


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