- Sputnik International
World
Get the latest news from around the world, live coverage, off-beat stories, features and analysis.

Russian Central Bank Cuts Key Rate by 0.25% Down to 9.75% - Press Release

© Sputnik / Ruslan Krivobok / Go to the mediabankRussian Central Bank
Russian Central Bank - Sputnik International
Subscribe
The Board of Directors of the Bank of Russia on March 24, 2017 decided to reduce the key rate to 9.75 percent, according to official statement.

MOSCOW (Sputnik) — The Bank of Russia reduced the key rate by 0.25 percent down to 9.75 percent, the bank said in a press release Friday.

"The Board of Directors of the Bank of Russia on March 24, 2017 decided to reduce the key rate to 9.75 percent," the press release read.

The Russian Central Bank - Sputnik International
Bank of Russia May Reduce Key Interest Rate to 7-8% in 2017 - VTB President
Since the oil prices plummeted in 2014 and western countries imposed sanctions against Russia over referendum in Crimea, the Russian economy faced serious challenges. According to the Federal State Statistics Service (Rosstat), in 2014 the inflation rate surged to 11.36 percent, reaching a five-year maximum of 12.91 percent in 2015.

In order to keep the Russian economy afloat, the central bank introduced a number of measures such as an increase of key interest rate from 5.5 in 2013 to 17 percent in 2014 and floating exchange rate.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала