The Board of Directors of the Bank of Russia decided to lower the key interest rate by 0.5 percentage points – down to 10 percent - at a meeting on Friday. This information is contained in the regulator’s message. Easing of monetary policy is happening against the background of slowing inflation.

      “With allowance for the decision taken and the preservation of a moderately tight monetary policy, the annual growth rate of consumer prices will make up about 4.5 percent in September 2017 and subsequently fall to the target level of four percent at the end of 2017” - the Central Bank indicates. The preservation of the rate at the 10 percent level for a long time will generate the conditions needed for further deceleration of inflation. Besides, stabilization of the rouble and a good harvest will facilitate reduction in the rate of growth of prices.