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Russia's Central Bank cuts key rate from 17% to 15%

January 30, 2015, 13:35 UTC+3
Analysts polled by TASS did not expect the key rate reduction because inflation expectations are still high
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Russia's Central Bank

Russia's Central Bank

© Pavel Smertin/TASS

MOSCOW, January 30. /TASS/. The Board of Directors of the Bank of Russia approved the reduction of the key rate (1 week repo rate, the source of bank liquidity) by two points: from 17% to 15%, the Central Bank said on Friday.

The decision was made on the basis of changes in the balance of consumer price growth acceleration risks and economic cooldown, the regulator said.

Decision of the Central Bank did not coincide with analysts polled by TASS before the CB meeting. Analysts did not expect the key rate reduction because inflation expectations are still high.

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