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    Minister: Russian Central Bank may reduce interest rates

    Interest rates may be down below 10% to the year end

    Baku. 30 July. REPORT.AZ/ Russian Central Bank may reduce interest rates below 10%. 

    Report informs referring to the Russian media, Russian Minister of Economic Development Alexey Ulyukayev said annual inflation in Russia may decline to 5% in July 2017.

    "I believe this is fairly probable. A huge margin for interest rates cut exists exactly on that basis," A.Ulyukayev said.

    "Interest rates may be down below 10% to the year end", he added. 

    Notably, the Bank of Russia made a decision on July 29 to keep the key rate of 10.5%. Such a decision and moderately tough monetary policy may contribute to reaching the 4% inflation target by 2017, the regulator said earlier.

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