FOREX TradingCharts.com

Financial News: Russia Cuts Key Rate By 50 Bps

Russia Cuts Key Rate By 50 Bps

09/16/2022 - 06:52:00 (RTTNews)

(RTTNews) - Russia's central bank lowered its key rate by a half-percentage point on Friday after slashing the rate by 150 basis points in July.

The Board of Directors of Bank of Russia decided to reduce the benchmark rate by 50 basis points to 7.50 percent from 8.00 percent. The outcome of the meeting matched expectations.

In case of a further budget deficit expansion, tighter monetary policy may be required to return inflation to target in 2024 and keep it close to 4 percent further on, the bank said in the statement.

The bank estimated annual inflation to fall to 5.0-7.0 percent in 2023 from an estimated 11.0-13.0 percent in 2022. Inflation is expected to return to 4 percent in 2024.

The bank today said the decline in GDP for this year is likely to be closer to the upper bound of the July forecast range -6.0 percent to -4.0 percent.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Norway Industrial Production Grows For Second Month (01 hr(s), 10 min(s), 50 sec(s) ago)
(RTTNews) - Norway's industrial production increased for the second straight month in August, ...Full Story»

UK Job Placement Growth At 19-Month Low: Report On Jobs (01 hr(s), 34 min(s), 50 sec(s) ago)
(RTTNews) - UK job placements expanded at the weakest pace in over a year-and-a-half in September ...Full Story»

German Industrial Production Shrinks; Retail Sales Fall (01 hr(s), 50 min(s), 50 sec(s) ago)
(RTTNews) - Germany's industrial production declined more than expected in August as raw mater ...Full Story»

UK House Price Inflation At 8-Month Low : Halifax (02 hr(s), 05 min(s), 50 sec(s) ago)
(RTTNews) - UK house price inflation eased for the third straight month in September to the lowest ...Full Story»

Australia's Financial System Remains Resilient: RBA (03 hr(s), 05 min(s), 50 sec(s) ago)
(RTTNews) - Australia's financial system remained resilient and well positioned to support the ...Full Story»

Japan Leading Index Rises In August (03 hr(s), 14 min(s), 50 sec(s) ago)
(RTTNews) - Japan's leading index improved for the first time in four months in August, prelim ...Full Story»

European Economics Preview: Germany Industrial Output Data Due (05 hr(s), 33 min(s), 50 sec(s) ago)
(RTTNews) - Industrial production and retail sales from Germany and house prices from the UK are d ...Full Story»

Japan Household Spending Rises 5.1% On Year In August (56 min(s), 10 sec(s) ago)
(RTTNews) - The average of household spending in Japan was up 5.1 percent on year in August, the M ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Norway Industrial Production Grows For Second Month

10/07/2022 - 04:30 AM (RTTNews)
(RTTNews) - Norway's industrial production increased for the second straight month in August, ...Full Story>>

UK Job Placement Growth At 19-Month Low: Report On Jobs

10/07/2022 - 04:06 AM (RTTNews)
(RTTNews) - UK job placements expanded at the weakest pace in over a year-and-a-half in September ...Full Story>>

German Industrial Production Shrinks; Retail Sales Fall

10/07/2022 - 03:50 AM (RTTNews)
(RTTNews) - Germany's industrial production declined more than expected in August as raw mater ...Full Story>>

UK House Price Inflation At 8-Month Low : Halifax

10/07/2022 - 03:35 AM (RTTNews)
(RTTNews) - UK house price inflation eased for the third straight month in September to the lowest ...Full Story>>

Australia's Financial System Remains Resilient: RBA

10/07/2022 - 02:35 AM (RTTNews)
(RTTNews) - Australia's financial system remained resilient and well positioned to support the ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.