MOSCOW, Oct 25 (PRIME) -- The board of directors of Russia’s central bank has reduced the key interest rate by 0.5 percentage points to 6.50% annually, the regulator said in a statement on Friday.
“The board of directors of the Bank of Russia has decided to reduce the key interest rate by 0.5 percentage points to 6.5% annually. Inflation has slowed down more rapidly than forecasted. Inflationary expectations continue to decrease. The economic growth rate is still modest. There are risks of a considerable deceleration of the global economy. The de-inflation risks prevail over the pro-inflation risks,” the statement read.
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