Russian Monetary Stance Eased as Expected
June 14, 2019
The Central Bank of Russia today cut its benchmark interest rate for the first time since March 2018. The 25-basis point rate reduction to 7.5% had been foreshadowed in comments made after the previous monetary policy review, and today’s released statement points to more rate relief in coming months if inflation continues to settle back from 5% currently toward the 4% target as officials expect it will. The previous monetary policy changes in Russia were a pair of 25-basis point interest rate hikes in September and December of 2018.
Copyright 2019, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
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