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Inflation slowdown above forecast to keep potential for key rate reduction — Central Bank

March 03, 20:28 UTC+3
The board of directors of Russia’s Central Bank has decided to keep the key rate at 10% per annum
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MOSCOW, March 3. /TASS/. Inflation slowdown above the forecast and positive trends in the economy are keeping the room for key rate reduction in the first half of 2017, the Bank of Russia said on Friday.

"Considering positive trends in the economy against inflation slowing down slightly higher than projected, the potential is kept to reduce the key rate in the first half of the year, although it is still limited by presence of inflation risks," the regulator says.

The board of directors of Russia’s Central Bank decided to keep the key rate at 10% per annum and highlighted diminished potential for further reduction of the rate in the first half of this year at its latest board meeting on February 3, 2017.

The next meeting of the Central Bank’s board to review the key rate is scheduled for March 24, 2017.

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