TASS — TASS Russia’s Central Bank cuts key rateRussia’s Central Bank cuts key rate

The board of directors of Russia’s Central Bank decided to cut the key rate by 25 basis points to 8.25% per annum at the meeting on October 27, 2017, the regulator reported Friday.

The board notes that inflation holds close to 4%. Its downward deviation against the forecast is driven mainly by temporary factors, the regulator said, while the economy continues to grow.

The regulator left open the option of further rate reduction at its upcoming meetings. It also noted a gradual transition from moderately tight to neutral monetary policy....

The Central Bank forecasts GDP growth in Russia in 2017 in the range of 1.7-2.2%. In the future, the GDP growth rate above 1.5-2% per year will be achievable with structural transformation, the regulator said.

TASS
Russia’s Central Bank cuts key rate