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Russian Central Bank to Set Annual Interest Rate at 5%
Monday, 16 May 2016 06:32
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Russian Central Bank to Set Annual Interest Rate at 5%

15:32 16.05.2016(updated 15:49 16.05.2016) Get short URL

MOSCOW (Sputnik) — The Russian Central Bank will be able to set the country's annual key interest rate at 5 percent if the inflation rate reaches 4 percent, Central Bank's Monetary Policy Department Director Igor Dmitriev said Monday.

"If inflation is at 4 percent, then key rates will sooner be 5 percent rather than 4 percent," Dmitriev said during an intercommittee group in the lower parliament.

Russia's current annual interest rate is set at 11 percent.

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