The Russian Central Bank reduced the key rate by 0.5 percentage points to 9.25% per annum, the regulator said following the results of the Board of Directors meeting, Tass reported. “On April 28, the Bank of Russia board of directors decided to reduce the key rate to 9.25% per annum. The board notes that inflation is moving towards the target, inflation expectations are still declining and economic activity is recovering. At the same time, inflation risks remain in place. Given the moderately tight monetary policy, the 4% inflation target will be achieved before the end of 2017 and will be maintained close to this level in 2018-2019,” the regulator said.
