Russian inflation continues under control allowing the Bank of Russia to reduce rates by 25bp Friday to 6.0%, the sixth consecutive reduction.
“On 7 February 2020, the Bank of Russia Board of Directors decided to cut the key rate by 25 bp to 6.00% per annum. Inflation slowdown is overshooting the forecast. Households’ inflation expectations and price expectations of businesses remain stable overall. In 2019 H2, the growth rate of the Russian economy picked up,” the Central Bank said. “If the situation develops in line with the baseline forecast, the Bank of Russia holds open the prospect of further key rate reduction at its upcoming meetings,” the regulator added, reported Russian state news agency TASS.
Despite terrible business conditions which slows entrepreneurship in the Russian Federation, monetary and fiscal policy has been sound during Putin’s reign, saving the Kremlin during several crisis.
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