Economy Minister: Russian Central Bank may lower interest rates in 2016
(MENAFN- The Journal Of Turkish Weekly) Russian economic development minister believes it is possible that country's Central Bank will lower the rates in 2016.
Russia’s Central Bank may lower key interest rates in 2016 from its current 11 percent Russian Economic Development Minister Alexei Ulyukayev said Monday.
“I believe this is possible” Ulyukayev said in response to whether the Central Bank could lower the rates though he did not indicate if this would be possible in the first or second half of 2016.
The minister also noted that Russia’s rate of inflation could be lower than 10 percent year-on-year for January.
“Inflation isn’t growing; moreover the growth rate of prices is slowing. By the end of the month I believe we will already see single-digit figures lower than 10 percent. This is still a high figure but it isn’t 15 percent and isn’t what it was in the spring of last year so we’re moving in the right direction” Ulyukayev said.
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