A Third Russian Central Bank Rate Cut

September 6, 2019

The Central Bank of the Russian Federation, as it had done in June and July, cut its policy interest rate by 25 basis points at today’s meeting, citing in a released statement the continuing downtrend of inflation, lower-than-expected economic growth and elevated global risks. Officials lowered their projections for both growth and inflation slightly, and predicted that more reductions of the policy interest rate would be forthcoming if economic trends evolve as they are expecting. The three rate reductions since June more than undo a duo of increases implemented in September and December of last year.

Copyright 2019, Larry Greenberg. All rights reserved. No secondary distribution without express permission.

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