Russia’s central bank cut its policy rate by 25 basis points today (January 9), two days after the inflation rate reached its lowest recorded rate in the country’s post-Communist history.

The Bank of Russia’s board of directors cut its “key rate” from 7.75% to 7.5%. Year-on-year inflation fell to 2.2% in January from 2.5% the previous month and 4.6% in February 2017, the Russian federal statistics service announced on February 9. This is the lowest figure recorded since Russia left the defunct