Bank of Russia cuts policy rate as inflation reaches historic low
Balance of risks has shifted from inflation to economic growth, central bank says
Russia’s central bank cut its policy rate by 25 basis points today (January 9), two days after the inflation rate reached its lowest recorded rate in the country’s post-Communist history.
The Bank of Russia’s board of directors cut its “key rate” from 7.75% to 7.5%. Year-on-year inflation fell to 2.2% in January from 2.5% the previous month and 4.6% in February 2017, the Russian federal statistics service announced on February 9. This is the lowest figure recorded since Russia left the defunct
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