Bank of Russia lowered its key rate c 17,00% to 15,00% per annum. In a statement the regulator said that this decision was taken in order to prevent a sharp slowdown in lending to the economy and as a consequence of a slowdown.
« Accepted December 15, 2014 Bank of Russia on a sharp increase in the key rate has led to the stabilization of inflation and devaluation expectations to the extent that it expected the Bank of Russia. Observed a surge in inflation caused by rapid adjustment of prices to the weakening of the ruble and what has happened is a time-limited character. In the future, inflationary pressures will be restrained by a decrease in economic activity. According to the forecast of the Bank of Russia, the growth rate of consumer prices fell to below 10% in January 2016 », – said the CBR.
Elvira said the December rate increase to 17% emergency measure. This decision, in its view, allowed to bring down the panic on the currency market and moderate devaluation and inflation expectations.
At the end of 2014, inflation was 11.4%, core inflation – 11.2%.
The Chairman of the Board of Directors of MDM Bank Oleg Vyugin, who previously held senior positions in the Ministry of Finance and the Central Bank described the decision as “untimely” and so that reduces the “prediction accuracy».
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