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Russia’s Central Bank reduces key rate to 9.75%

March 24, 13:39 UTC+3

Central Bank cut its key rate for the first time since September 2016

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© Sergei Bobylev/TASS

MOSCOW, March 24. /TASS/. Russia’s Central Bank cut its key rate for the first time since September 2016 by 25 basis points to 9.75% per annum, the regulator reported following its board meeting on Friday.

"On 24 March 2017, the Bank of Russia Board of Directors decided to reduce the key rate from 10.00 to 9.75% p.a. The Board of Directors notes that inflation slowdown overshoots the forecast, inflation expectations continue to decline and economic activity recovers. Inflation risks have slightly dropped but remain elevated," the regulator said.

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