The Central Bank of the Russian Federation has reduced the key rate

On 30^th of January 2015 Board of Directors of the Central Bank of the Russian Federation made a decision to lower the key rate from 17 to 15 %, taking into account changes in the balance between risks of higher consumer prices and cooling of economy.

The Central Bank of the Russian Federation considers that to January of 2015 the growth of consumer prices will slightly slowdown, while annual inflation keep rising, reaching a peak in the second quarter of 2015.

Weakening of ruble occurred will continue exerting its influence on prices of goods and services. As a result of this, the increase of annual inflation is possible in the near future. However, because of gradual reorganization of economy in accordance with changed environment and reduction of impact of course dynamics on prices a decrease of inflation and inflationary expectations is expected.

The source: http://www.cbr.ru/press/pr.aspx?file=30012015_133122dkp2015-01-30T13_15_49.htm