Bank of Russia cuts policy rate as inflation reaches historic low

Bank of Russia
The Bank of Russia
Kuba/Wikimedia

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

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