Moscow court prolongs house arrest for director Serebrennikov to Jan 19, 2018World October 18, 1:11
Rusisan tennis star Sharapova comments on her performance in VTB Kremlin CupSport October 17, 19:29
Russia blacklists almost 400 football fansSport October 17, 18:48
Window for dialogue with Ukraine still open — diplomatRussian Politics & Diplomacy October 17, 18:40
Sharapova out of 2017 VTB Kremlin Cup in Moscow after 1st roundSport October 17, 18:35
Ten Russian universities included in Times Higher Education rankingSociety & Culture October 17, 18:00
Diplomat reveals foreign structures behind wave of fake ‘Russian embassy’ accountsRussian Politics & Diplomacy October 17, 16:57
Russian Guard, police may get electroshock shields for special operationsMilitary & Defense October 17, 16:41
Catalonia promises not to give up independence bidWorld October 17, 16:21
MOSCOW, July 31. /TASS/. The Russian Central Bank lowered its key interest rate by 0.5 percentage points to 11%, the regulator said Friday.
The bank said the decision is based on the fact the balance of risks still remains shifted to a significant economic slowdown, despite higher inflation risks.
The Central Bank’s decision is in line with the experts’ forecasts. The majority (10 out of 15) analysts questioned by TASS believed that the Central Bank will lower its key rate by up to 0.5 percentage points to 11% per annum. At the same time 5 experts believed that the Central Bank will take a break.
According to the Russian Central Bank, the dynamics of the main macroeconomic indicators signifies further cooling of the economic activity. According to the Bank’s estimations, the decline of Russia’s GDP in the Q2 against the same period last year may be even more significant than in the Q1. "Although factors of the structural nature still restrain the economic growth, the decline in economic output currently, among other things, is of a cyclical pattern," the regulator said, noting that the low level of consumer and business confidence, the decline in use of production capacities and labor.
The next meeting of the Central Bank on monetary policy will be held on September 11.