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Bank of Russia lowers key rate

Bank of Russia lowers key rate
Photo: pixabay.ru
At the last meeting, the Bank of Russia lowered its key rate from 5,5% to 4,5% per annum. Most analysts expected this decision, it is designed to keep inflation in the country at 4%. 

As he writes "Merchant", by mid-June, annual inflation reached 3,1%. According to experts, in 2021 there is a risk that it will drop below 4%. A decrease in the key rate will help to limit it and keep the price increase. 

During the year, the Bank lowered the rate by 3,25%. The break was only made in March, when world markets were shocked by the rapid spread of the coronavirus pandemic and falling oil prices.

The key rate reduction to 4,5% is a record since 2013. It will lead to a decrease in the cost of basic banking products - loans, mortgages and deposits.
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