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The Bank of Russia lowered its key interest rate from 15% to 14% per annum

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13.03.2015

On 13 March 2015 the Bank of Russia’s Board of Directors decided to cut the key interest rate from 15% to 14% per annum, given that the risks’ balance is still biased towards a significant economy’s cooling. The decision taken will help to reduce these risks without creating additional inflationary pressures threats.

According to the Bank of Russia’s forecast, conducted monetary policy and the slowdown in economic activity will contribute to the slowing of the annual growth rate of consumer prices to a level of about 9% in a year (March 2016 to March 2015) and to the target level of 4% in 2017. In case of the inflationary risks’ weakening the Bank of Russia will be ready to continue the key rate reduction.

Bank of Russia

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