Translated material
The Central Bank of Russia lowered the key rate
The Board of Directors of the Bank of Russia on Friday, October 27, decided to reduce the key rate by 0.25 percentage points, to 8.25% per annum, according to a statement on the Central Bank's website . The new key rate will be set from Monday, October 30.
The Central Bank explained that when reducing the key rate, inflation was taken into account, which remains at the level of 4%. “The economy continues to grow. Inflation expectations remain elevated. Their decline remains unstable and uneven,” the Central Bank says. For this reason, the regulator decided to gradually move from a moderately tight monetary policy to a neutral one.
This is the fifth key rate cut in 2017. In April and September, the Central Bank lowered the rate by 0.5 percentage points, in June and March - by 0.25 percentage points. Twice a year - in February and June - the Central Bank did not change the rate.
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