Russia`s money market will stay calm for the remainder of 2007 following the transfer of 180 billion roubles to the Bank of Development, a senior central bank`s official said on Tuesday.

"The arrival of this money has normalised the situation. I think there will be no money market turbulence for the rest of 2007," said Sergei Shvetsov, head of the financial markets operations department at the central bank.

The Bank of Development was recapitalised with money from the budget stabilisation fund and has been placing the funds on deposit at commercial banks, helping to ease a liquidity squeeze.
sections: Economics