The Central Bank of Russia could further reduce its refinancing rate this year if inflation slows down

Sunday, February 23, 2020

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The Central Bank of Russia could further reduce its refinancing rate this year if inflation slows down, the bank's chief said Wednesday. "We are thinking about that [about reducing the refinancing rate]. This will be difficult but possible if inflation slows down," Sergei Ignatyev said. Ignatyev said the CBR had cut the refinancing rate from 13% to 12% at the end of 2005 and to 11.5% in June 2006 to reduce borrowing costs and make loans more affordable.

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