Bank of Russia reduces discount rate

Baku. 28 April. REPORT.AZ/ The Bank of Russia (Central Bank) reduced the key rate by 0.5% up to 9.25% per annum.

Report informs referring to the RIA Novosti, Central Bank notes the approach of inflation to the target level of 4% and continuing decline in inflation expectations, as well as recovery of economic activity. So, in March, inflation in Russia was 4.1%. According to analysts, Bank of Russia this year can gradually reduce the key rate to 8.25%.

Analytical Group of Report believes that the rate cut will not seriously affect the ruble exchange rate. Now the ruble reduced by 0.2% - to 57 RUB/USD, but in the future the stable rate is predicted.