Thursday, Mar 28 2024 | Time 16:23 Hrs(IST)
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World


Russian Central Bank cuts key rate by 0.25 percentage points, renewing historic minimum

Moscow, Jul 24 (Sputnik) The Russian Central Bank on Friday slashed the key rate by 0.25 percentage points to 4.25 percent per annum, thus renewing a historic minimum for the indicator.
“On 24 July 2020, the Bank of Russia Board of Directors decided to cut the key rate by 25 bp to 4.25% per annum. Disinflationary factors continue to exert considerable influence on inflation. Household and business inflation expectations have overall stabilised following a decrease in May-June. The recovery of the global and Russian economies will be gradual despite the fact that the easing of restrictions revives economic activity,” the Central Bank said in a statement.
A further reduction of the key rate is possible and would be considered at the upcoming board meetings depending on the external and internal risks and the inflation dynamics, the bank stressed.
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