(MENAFN) According to an online statement released by the financial regulator, Russia's central bank made a decision to cut the interest rate down from 17 to 15 percent, Xinhua reported.
The bank stressed that its previous decision "has stabilized the inflationary and devaluation expectations to a satisfying extent." The rate was once raised from 10.5 to 17 percent in mid-December last year.
According to the bank, the increasing inflationary pressure has been controlled in time, while the price roar will be put on a brake due to economic activity slowdown and the shrinking consumer demand.
Meanwhile, the bank's statement said that annual inflation in January 2015 has amounted to 13.1 percent. By January of 2016, the inflation in Russia would have fallen below 10 percent, the bank forecasts.
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