Russian central bank trims base rate to 7.25pc

26 Jul, 2019

"Inflation slowdown is continuing," the regulator said in a statement. "Weak economic activity, along with temporary factors, limits inflation risks over the short-term horizon."

It said there is a "possibility of further key rate reduction" at its next meeting if inflation returns to the forecast 4 percent in early 2020.

The annual inflation rate decreased to 4.6 percent in July due to "consumer demand trends" and a strengthened ruble, it said.

Russian economic growth slowed dramatically in the first quarter of 2019 to an annual rate 0.5 percent, falling below the Central Bank's forecast.

Copyright AFP (Agence France-Press), 2019
 

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