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Bank of Russia may reduce key rate in February — opinion

January 16, 20:25 UTC+3 MOSCOW

The key rate of the Bank of Russia is 10%

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MOSCOW, January 16. /TASS/. The Bank of Russia may reduce the key rate in February unless the situation with inflation worsens, Alexander Shokhin, the President of the Russian Union of Industrialists and Entrepreneurs (RSPP), said in an interview with Rossiyskaya Gazeta to be published tomorrow.

"Key rate reduction may be expected in February unless the situation with inflation changes. I agree with the CB outlook inflation may be 4% annually by 2017 year-end. My forecast for such inflation is: the key rate of 8% or 7.5% is fairly probable," Shokhin said. The key rate of the Bank of Russia is 10% for the time being.

Forecasting the ruble rate in 2017 is difficult for the time being. "Too many factors are present that influence on fluctuation rates and too many "noise" preventing clear vision of trends. I only hope the year of 2017 will benefit the Russian ruble against the previous one and that it will not become too stronger," Shokhin said.

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