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Finance Minister comments on Central bank's decision to cut key rate

September 15, 15:00 UTC+3

On September 15, the Bank of Russia decided to reduce the key rate from 9% to 8.5%

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MOSCOW, September 15. /TASS/. The decision of the Board of Directors of the Bank of Russia to reduce the key rate from 9% to 8.5% per annum reflects a steady decline in inflation expectations, Finance Minister Anton Siluanov told journalists.

"The decision of the Board of Directors of the Central Bank to reduce the key rate by 50 basis points reflects a steady decline in inflation expectations and their gradual consolidation at a low level," the minister said.

He also noted that already today, annual inflation slowed to 3.2%, "where it is likely to remain until the end of the year." According to Siluanov, this expands the room to further decline in cost of long-term investment resources.

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