The Bank of Russia reduced the key rate

The Bank of Russia at a meeting on March 24 reduced the key rate from 10% to 9.75% per annum. This is stated in the statement of the Central Bank.

“The Board of Directors notes that inflation slows down faster than predicted, a decrease in inflation expectations and restoration of economic activity continues,” the Central Bank said.

The regulator promised to observe the further dynamics of inflation and admitted that in the II-III quarters of this year the key rate would gradually decrease.