MOSCOW, 30 Oct. The Bank of Russia decided to leave unchanged interest rates on the specialised refinancing instruments, stated in the message controller.
The Bank of Russia on Friday kept its benchmark rate at 11% per annum, given the persistence of substantial inflation risks.
Most analysts polled saw the fundamental reason for the reduction in the key rate of the Bank of Russia today: in their opinion, high inflation, coupled with elevated inflation expectations and the weakening of the ruble amid falling world oil prices were expected to keep the Central Bank from sudden movements.
However, the rest of economists did not rule out that the continuing decline of the Russian economy, could cause a cautious easing of the monetary policy of the regulator by 25-50 basis points to spur economic growth.
Read the full text of the statement by Bank of Russia following the meeting of 30 October >>