Monday, March 14, 2011

Latvia Central Bank Holds Policy Rate at 3.50%

Latvia's Central Bank, Latvijas Banka, held its main monetary policy rate unchanged at 3.50%, and made no alterations to its reserve requirements. The Bank cited low inflationary pressures, and noted that 12-month average inflation was -1.1% in 2010, but "annual inflation in December, however, rose to +2.5%, primarily because of the low base effect and global developments in the food and energy resource markets". The Bank also commented that it expects the 12-month average inflation for 2011 to hover around 2.7%.


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