Bank of Russia Cuts Key Rate by 0.50% to 8.50%

Moscow | 15th September 2017

On 15 September 2017, the Bank of Russia Board of Directors decided to cut the key rate by 50 b.p. to 8.50% per annum. The Board of Directors notes that inflation is close to 4% while the economy keeps growing.
” Bank of Russia Cuts Key Rate by 0.50% to 8.50% “
In order to maintain inflation close to 4%, the Bank of Russia will continue to conduct moderately tight monetary policy.
During the next two quarters, the Bank of Russia deems it possible to cut the key rate further. While making its decision hereinafter, the Bank of Russia will assess the risks of inflation’s material and sustainable deviation from the target, as well as consumer price movements and economic activity against the forecast.

Official Press Release by Bank of Russia

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