The CBR kept the key rate at 10%

The CBR kept the key rate at 10%

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The Bank of Russia expects inflation fall to 4% by the end of 2017

Photo: NEWS/Paul Poor

The Central Bank kept its key rate at 10% per annum. About it reports a press-service of the regulator.

As planned, the Board of Directors of the Bank of Russia 28 October 2016, has decided to keep the key rate unchanged at 10.00% APR, the report said. It is also noted that the dynamics of inflation and economic activity is now in line with expectations.

The press service of the Bank of Russia also stressed that the decline in inflation expectations is likely to be unstable, the slowdown in consumer prices significant contribution of temporary factors.

According to the Central Bank, taking into account the adopted decisions and maintain a moderately tight monetary policy, the annual growth rate of consumer prices will be less than 4.5%.

“In October 2017 and will fall to the target level of 4% at the end of 2017,” predicts the Central Bank.

The ruble against the decision of the Bank of Russia received support. The dollar is based on tomorrow 13.41 MSK increased by 0.22 rubles to 62,92 of the ruble, the Euro by 0.28 ruble to 68,66 of the ruble. This is evidenced by data Moscow exchange.

The Central Bank has twice lowered its key interest rate in 2016 — in June and September.