Russia’s Central Bank cuts key rate to 9.75%
Baku, Azerbaijan, Mar. 24
By Anvar Mammadov – Trend:
Russia's Central Bank cut its key rate to 9.75 percent on Mar. 24, said a message posted on the bank’s website.
The bank’s Board of Directors noted that inflation is slowing down faster than expected, inflation expectations continue to decline and economic activity recovers.
“Inflation risks have slightly dropped but remain elevated. In these circumstances, given the moderately tight monetary policy, the 4-percent inflation target will be reached by late 2017 and maintained further,” reads the message.
At the same time, the Central Bank of Russia will assess the future dynamic of inflation and the economy in relation to the forecast and allows for the possibility of gradual reduction of the key rate in 2Q/3Q of 2017, according to the message.