MOSCOW, July 24. /TASS/. The Bank of Russia has decided to cut its key rate by 25 basis points to 14% per annum, according to the regulator’s press release following its board meeting.
TASS has collected the main facts about the decision.
Regulator’s decision
The Central Bank reduced the key rate by 25 basis points to 14% per annum.
The regulator noted though that a smoother key rate decrease is required given the direct and second-round effects of the temporary decline in production capacities in certain sectors and more expansionary fiscal policy over a three-year horizon than projected in April.
