MOSCOW, October 30. The ruble has accelerated its growth after the decision of the CBR to keep key rate at 11%, according to data trading on the Moscow exchange.
So, as of 13:35 Moscow time the dollar exchange rate fell by 45 kopecks compared to the closing of yesterday’s trading to 63,95 of the ruble, falling below 64 rubles. The Euro declined by 26 kopecks to the ruble 70,41.
The Central Bank of the Russian Federation following the meeting of October 30, kept its key rate unchanged at 11% per annum. The decision to maintain rates was based on a continued significant inflation risks. Significant changes in the balance of inflation risks and risks of the economy cooling has not occurred, notes the regulator.
The Bank of Russia will resume the reduction of the key rate on one of the next meetings with the slowdown of inflation in accordance with the forecast, is specified in the message of the Central Bank.
So, under forecasts of Bank of Russia, inflation in October 2016 will reach the level below 7% and reaches 4% in 2017. According to the regulator, in September-October, annual inflation declined slightly. The annual rate of increase in consumer prices for October 26, was 15.6% after 15.8% in August.
In this case inflation expectations, though declined in comparison with September, remain at an elevated level. Moderately tight monetary policy and weak consumer demand, low growth of nominal incomes of the population limit inflation, according to the CBR.