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Central Bank’s Key Interest Rate Down 0.5%

UrBC, Moscow, June 14, 2016. Russia’s Central Bank ruled that its key interest rate is to go down from 11% to 10.5%, the authority’s press service reports.

‘The Board of Directors has considered the positive trends such as stabilizing inflation, more optimistic inflation rate forecasts, lowered inflation risks, and signs that the Russian economy is about to enter a recovery stage. The slowing-down of inflation processes means one can expect the inflation rate to gradually go down to under 5% in May 2017 and to the target figure of 4% in late 2017, provided the bank keeps up with its moderately strict monetary policies,’ the press service says.

The bank reports the key interest rate might be reduced further, depending on inflation risks at hand.
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