lv

Press Release of March 13, 2003

At its March 13 regular meeting, the Council of the Bank of Latvia resolved to leave unaltered the refinancing rate, the interest rate on the bank time deposits with the Bank of Latvia and the Lombard loans in view of the stable macroeconomic situation, low inflation and positive trends in the money market.

The current interest rates set by the Bank of Latvia are as follows:

- The refinancing rate  - 3.0% per year.

- The interest rates on the bank time deposits with the Bank of Latvia:

            - 2% per year for 7-day deposits,

            - 2.25% per year for 14-day deposits.

- The interest rates on Lombard loans are:

            - 5.0% per year for loans with maturity of up to 10 days,

            - 6.0% per year for loans with maturity from 11 to 20 days,

            - 7.0% per year for loans with maturity of 21 days and over.