Central Bank reduced the key rate

The Board of Directors of the Bank of Russia decided to reduce the key rate - from June 16, 2015 it will be reduced from 12.5 to 11.5 percent per annum, RBC reports . The management of the Central Bank explained its decision by the "further weakening of inflationary risks while maintaining the risks of significant cooling of the economy."

"According to the forecast of the Bank of Russia, under the influence of these factors, the annual inflation in June 2016 will be less than 7 percent and reach the target level of 4 percent in 2017. The Bank of Russia will be ready to continue to reduce the key rate as consumer prices are further slowed down in accordance with the forecast, but at the same time, the potential for mitigating monetary policy in the coming months is limited In the message of the Central Bank.

The news of a decrease in the key rate has led to a short -term decrease in dollar and euros on the Moscow Exchange. Within a few minutes flying in the morning above 55 rubles and slowly decreasing during the first half of the day the dollar rate dropped to 54.751 rubles. At the same time, the euro fell by about 40 kopecks at the same time, falling to 61,448 rubles, which is almost a ruble below the maximum of today's trading.

However, having reached the minimums of the day, the dollar and euro courses went up again. After 10-15 minutes, the dollar exchange rate rose again above 55 rubles, and the euro approached 61.8 rubles.