Bank of Russia Brings Key Rate Down to 7.25%

26 March 2018 (10:03)

UrBC, Moscow , March 26, 2018. The Bank of Russia’s Board of Directors brought the regulator’s refinancing rate down by 0.25%, to 7.25% a year, the bank’s website states.

The decision was taken due to lowered inflation rate expectations. According to the bank’s forecast, the yearly inflation rate is expected to amount to 3%-4% by the end of 2018 and will fluctuate within 4% range in 2019.

‘Given these trends, the Bank of Russia will keep decreasing the key rate and will fully switch to neutral monetary policy in 2108,’ the website states.

The Bank of Russia BOD’s next meeting has been scheduled for April 27, 2018.

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