Russian Central Bank lowers key rate

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Baku, September 16, AZERTAC

The Russian Central Bank decided to lower the key rate by 0.5 percentage points to 10% for the first time since June, according to the regulator’s press release published on Friday.

The Central Bank has decided to lower the key rate, taking into account slowdown of inflation according to the forecast, as well as inflation expectations at the remaining unsustainable economic activity.

"The Central Bank expects that the decision to lower and maintain the key rate at 10% per annum will reduce inflation expectations. Currently, the structure of market interest rates before maturity and the poll results show that market participants predict a more rapid decline of interest rates than the Central Bank," the regulator said.

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