The Central Bank of the Russian Federation will lower the key rate to 17% per annum from Monday

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The Central Bank of the Russian Federation will lower the key rate to 17% per annum from Monday
The Central Bank of the Russian Federation will lower the key rate to 17% per annum from Monday
8 April, 19:46EconomyPhoto: Фото: 1MI
The Board of Directors of the Bank of Russia decided to reduce the key rate by three percentage points at once - to 17% per annum. The decision will come into effect on Monday, April 11.

According to the press service of the regulator, despite the fact that the Russian economy continues to be under pressure from outside, and the risks to its financial stability still persist, however, today these risks have ceased to grow, so it was decided to lower the key rate.

Measures taken by the regulator to control the movement of capital contributed to reducing the pressure on the Russian economy, the report says. There is a decrease in inflation rates and a strengthening of the ruble exchange rate.

In addition, due to high interest rates on deposits, there is a steady inflow of funds from Russians.

The Bank of Russia also did not rule out a further reduction in the key rate at future meetings. The next meeting will take place on April 29.

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