BOFIT Weekly Review 2016/31
CBR keeps key rate unchanged
At the regular meeting last Friday (July 29), the board of the Central Bank of Russia decided to keep the key rate unchanged. The 10.5 % key rate has been in place since June 14. The CBR board noted that inflation expectations had not subsided enough to justify further rate cuts. July consumer prices were up 7.2 % y-o-y. The next regular rate review meeting of the CBR is set for September 16.