Bank of Russia Cuts Key Rate by 0.25% to 8.25%
Moscow | 27th October 2017
On 27 October 2017, the Bank of Russia Board of Directors decided to reduce the key rate by 25 bp to 8.25% per annum. The Board notes that inflation holds close to 4%. Its downward deviation against the forecast is driven mainly by temporary factors.
” Bank of Russia Cuts Key Rate by 0.25% to 8.25% “
Given the balance of risks for inflation the Bank of Russia’s ongoing transition from moderately tight to neutral monetary policy will be gradual.
Moving forward, the Bank of Russia’s key rate decisions will be based on its assessment on the balance of risks for inflation significantly and persistently deviating in either direction from the target, as well as the dynamics of economic activity against the forecast. The Bank of Russia Board of Directors leaves open the option of further rate reduction at its upcoming meetings.
Official Press Release by Bank of Russia