Photo: Natalia Seliverstova / RIA Novosti
The Board of Directors of the Bank of Russia lowered the key rate by 25 basis points to 7.5 per cent per annum. This is stated in the message of the Central Bank.
The annual inflation rate remains low and inflation expectations of citizens gradually decrease, according to the Bank of Russia. “Preinflation short-term risks have subsided. In this regard, the balance of economic and inflation risks have shifted towards risks to the economy”, — stated in the message.
The Central Bank said the volatility in global financial markets. “In these conditions the Bank of Russia will continue the reduction of the key rate and allows for the completion of the transition from moderately rigid to a neutral monetary policy in 2018,” says the regulator.
15 December 2017, the Bank of Russia took a decision to reduce the key rate by 0.5 percentage points, to 7.75% per annum.
The next meeting of the Board of Directors of the Central Bank, which will address the issue of the level of the key rate, due March 23.
Video, photo All from Russia.