russian central bank cuts key rate to 9
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Russian central bank cuts key rate to 9%

Arab Today, arab today

Arab Today, arab today Russian central bank cuts key rate to 9%

Central Bank President Julio Velarde
Moscow - Arab Today

Russia’s central bank on Friday decreased its key interest rate to 9 percent from 9.25 percent in line with its policy to gently invigorate the country’s economy.
“The Bank of Russia Board of Directors decided to cut the key rate to 9 percent per annum,” the bank said in a statement. The cut follows a half-point decrease in late April.
The board “notes that inflation is close to the target, inflation expectations keep declining, and economic activity is recovering,” the bank said, adding that it will continue “moderately tough” monetary policy to keep inflation in line.
Annual inflation in May stood at 4.1 percent, inching down over the past months toward the Russian government’s target of 4 percent. Though Russians are in “savings behavior patterns,” the bank observed “signs of nascent recovery in consumer activity.”
The bank added it considers mid-term inflation risks “elevated,” adding that it is likely to maintain a tight monetary policy “for a long time to anchor inflation close to its target.”
Russia’s gross domestic product (GDP) grew 0.5 percent in the first quarter of 2017, its statistics agency said last month, slowly recovering from a crippling economic crisis in the wake of the crash of oil prices and international sanctions in 2014, which diminished people’s purchasing power.
The government expects growth to reach 2 percent this year.
Meanwhile, Elvira Nabiullina, the banks’ governor, said that the central bank was keeping its oil price forecast at $50 per barrel this year and believed it would go down to $40 per barrel in 2018-2019.
The task of Russia’s central bank is to make sure that inflation expectations keep falling in the economy, she said.
Nabiullina also said new inflation risks have appeared recently, and that external economic conditions were likely to remain unstable.

Source: Arab News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

russian central bank cuts key rate to 9 russian central bank cuts key rate to 9

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

russian central bank cuts key rate to 9 russian central bank cuts key rate to 9

 



GMT 16:16 2014 Wednesday ,10 September

Samirah Ibrahim receives Saudi cultural attaché

GMT 09:32 2017 Sunday ,24 September

China confirms will limit oil exports to North Korea

GMT 19:56 2016 Saturday ,17 September

Typhoon Meranti death toll rises to 28

GMT 09:40 2018 Monday ,01 January

OIC Summit opens in Kazakhstan

GMT 06:37 2015 Monday ,07 December

Iran film directors protest colleague's jail term

GMT 18:37 2017 Friday ,25 August

Mental health issues should be prioritized

GMT 04:39 2017 Thursday ,31 August

Trump vows to right 'self-destructive' tax code

GMT 05:29 2017 Tuesday ,22 August

Celebrations across India on 71st Independence Day

GMT 10:54 2017 Wednesday ,11 October

Child obesity grows tenfold since 1975

GMT 02:31 2016 Tuesday ,06 December

Dubai Women Establishment delegation participates

GMT 04:29 2018 Wednesday ,19 September

North and South Korea: Kim and Moon hail new future

GMT 14:18 2013 Monday ,19 August

Newlywed Lebanese couple pose at car bomb site

GMT 11:11 2011 Friday ,12 August

Palestinian university ranks seventh in Arab world

GMT 15:16 2015 Wednesday ,26 August

UAE ambassador attends charity ceremony in Qalubiya

GMT 16:59 2016 Tuesday ,26 July

Hedge funds in new cycle of oil short-selling
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday