CENTRAL BANK CUTS REFINANCING RATE.

Russia’s Central Bank exuded an air of renewed confidence yesterday in announcing that it was lowering the refinancing and Lombard rates from 42 percent to 39 percent effective today, February 17. The bank said it was responding to positive changes on Russian financial markets, as reflected in falling yields on treasury bills and stabilization on the currency market. (Itar-Tass, February 16)

Moscow Calls Again for Annan Visit.