{"id":26746,"date":"2012-01-20T13:33:00","date_gmt":"2012-01-20T18:33:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2012\/01\/20\/latvia-central-bank-holds-rate-3-50-cuts-reserve-ratio\/"},"modified":"2012-01-20T13:33:00","modified_gmt":"2012-01-20T18:33:00","slug":"latvia-central-bank-holds-rate-3-50-cuts-reserve-ratio","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2012\/01\/20\/latvia-central-bank-holds-rate-3-50-cuts-reserve-ratio\/","title":{"rendered":"Latvia Central Bank Holds Rate 3.50%, Cuts Reserve Ratio"},"content":{"rendered":"<p><span><a href=\"http:\/\/www.bank.lv\/en\/\">Latvijas Banka<\/a><\/span><span><span><span>&nbsp;kept its main monetary policy interest rate, the refinancing rate, steady at 3.50%, and held its other interest rates unchanged, but reduced the reserve ratio for bank liabilities above two years to 2% from 3%, and for other liabilities to 4% from 5%. &nbsp;The Bank said: &#8220;By reducing the reserve ratio, additional financial resources are released for lending and more beneficial conditions for the availability of lending resources necessary for economic growth are created. A simultaneous reduction of the reserve requirement for liabilities of different maturities will promote a balanced impact on the availability of financing in the banking sector and will continue to maintain banks&#8217; motivation in attracting long-term financing.&#8221;<br \/><\/span><\/span><\/span><br \/><a name='more'><\/a><span>Previously the Bank also kept monetary policy settings unchanged, leaving the&nbsp;<\/span><span><a href=\"http:\/\/www.centralbanknews.info\/2011\/11\/central-bank-of-latvia-holds.html\">refinancing rate<\/a>&nbsp;<\/span><span>at 3.50% at its November meeting. &nbsp;The Bank of Latvia last reduced the refinancing rate by 50bps to 3.50% in March 2010. &nbsp;Latvia reported annual inflation of 4% in December, down from 4.4% in October, 4.6% in September, and 4.7% in August. &nbsp;The Latvian economy expanded 5.6% on an annual basis in Q2, while GDP growth was reported as 3.5% in the previous quarter. &nbsp;The Latvian currency, the lat (LVL), last traded around 0.54 against the US dollar.<\/span><\/p>\n<div><span><a href=\"http:\/\/www.centralbanknews.info\/\">www.CentralBankNews.info<\/a><\/span><\/div>\n<div><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/blogger.googleusercontent.com\/tracker\/8290544642025682538-3797352551556847198?l=www.centralbanknews.info\" alt=\"\" \/><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Latvijas Banka&nbsp;kept its main monetary policy interest rate, the refinancing rate, steady at 3.50%, and held its other interest rates unchanged, but reduced the reserve ratio for bank liabilities above two years to 2% from 3%, and for other liabilities to 4% from 5%. &nbsp;The Bank said: &#8220;By reducing the reserve ratio, additional financial resources &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2012\/01\/20\/latvia-central-bank-holds-rate-3-50-cuts-reserve-ratio\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Latvia Central Bank Holds Rate 3.50%, Cuts Reserve Ratio&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-26746","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/26746","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=26746"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/26746\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=26746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=26746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=26746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}