Russian Central Bank keeps key rate unchanged

Russian Central Bank keeps key rate unchanged

The board of directors of Russia’s Central Bank decided to keep the key rate at 10% per annum at its first board meeting in 2017 on Friday.

Inflation performance has been generally in line with the forecast, the regulator said in a press release. Meanwhile, risks remain that inflation will be above the target level of 4% in 2017, though inflation risks are abating on a mid-term horizon, the report said.

"Given the internal and external developments, the Bank of Russia’s capability to cut its key rate in the first half of 2017 has diminished," TASS cited the regulator as saying.

The next meeting of the Central Bank’s board to review the key rate is scheduled for March 24, 2017.

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