Russiaʼs central bank lowers key rate again
Photo by HANK50/Shutterstock.com
Russiaʼs central bank has cut its key interest rate for the fourth straight session amid persistently slowing inflation and subdued growth, while signaling that it is will consider further easing in future, financial news wire RTT News reported.
The Bank of Russia (photo by HANK50/Shutterstock.com)
The Board of Directors decided on Friday to cut the key rate by 50 basis points to 6.5%, the Central Bank of the Russian Federation (commonly known as the Bank of Russia) said in a statement. The previous reduction in the rate was a 25 basis-point cut in September.
Inflation expectations continue to decrease but the economic growth rate still remains subdued, the bank said. The slowdown in inflation is overshooting the forecast, the Bank of Russia added.
The bank expects inflation of 3.5-4% in 2020 and around 4% thereafter. The GDP growth forecast for this year was left unchanged at 0.8-1.3%, RTT News noted.
ADVERTISEMENT
Economic Development Ministry Responds to Banking Concerns
Parl't Approves Amendments to Legislation on Judiciary
Retail Sales in Hungary Down 12.6% y.o.y. in April
New MTÜ Campaign Invites Tourists to Relax at the Waterfront
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
