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Bank Rossii left its refinancing rate unchanged at 8.25 percent. In order to reduce the volatility in the money market, the central bank cut the repurchase rate to 5.25 percent and raised the overnight need money fast deposit rate to 3.75 percent, effective from September 15.Forcing small businesses to take on the same costs and tax burdens as national retail businesses is unrealistic, unfair and will unbalance the playing field between giant retailers and small business retailers on the Internet, Bieron said.The construction sector is likely to be the foundation of healthy growth in the New Zealand economy over the next two years, with rebuilding after Christchurch's earthquakes only part of the lift.
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