Department external and public relations of Bank of Russia informs, that the Board of Directors of Bank of Russia, 29 September 2009 decided to reduce from 30 September 2009 the Bank of Russia refinancing rate by 0.5 percentage points to 10%, as well as interest rate cuts by the Bank of Russia Operations at 0.25-0.75 percentage points.
Over two decades in September 2009 consumer prices in Russia remained stable, which corresponds to the accumulated since the beginning of this year, inflation of 8.1% compared to 10.2% during the same period in 2008. During the period this month, inflation continued to decline in annual terms: on September 21 its level was 11.0% (in August - 11.6%). Given that the factors associated with constraints on the part of domestic demand and the ruble money supply will continue to exert a positive influence on the dynamics of consumer prices, and because of substantial lessening of devaluation expectations, the Bank of Russia continues to assess the tendency to reduce the rate of inflation as stable in the absence of fundamental reasons, which could accelerate the growth of prices in the remaining months of 2009 compared to their dynamics in 2008.
Although the Bank of Russia made the decision to reduce the refinancing rate, which reduced the interest rates, interbank market, interest rates on loans to real sector of the economy remain relatively high. Index of industrial production fell in August compared to July 2009. Total credit economy in September this year, virtually unchanged. Thus, interest rate policy of Bank of Russia aimed at developing positive trends in the economy and, above all, in the credit activity of the banking sector. Follow the Bank of Russia to reduce interest rates will be determined by the need to create conditions for the expansion of credit and stimulate economic growth with the development of inflationary trends.
Rate Russia's ruble has responded to this event growing in relation to the dollar. On the interbank market has been tested by a mark 30.05. Currently, however, the dollar / ruble rebounded by 5 cents and climbed to 30.10.
Over two decades in September 2009 consumer prices in Russia remained stable, which corresponds to the accumulated since the beginning of this year, inflation of 8.1% compared to 10.2% during the same period in 2008. During the period this month, inflation continued to decline in annual terms: on September 21 its level was 11.0% (in August - 11.6%). Given that the factors associated with constraints on the part of domestic demand and the ruble money supply will continue to exert a positive influence on the dynamics of consumer prices, and because of substantial lessening of devaluation expectations, the Bank of Russia continues to assess the tendency to reduce the rate of inflation as stable in the absence of fundamental reasons, which could accelerate the growth of prices in the remaining months of 2009 compared to their dynamics in 2008.
Although the Bank of Russia made the decision to reduce the refinancing rate, which reduced the interest rates, interbank market, interest rates on loans to real sector of the economy remain relatively high. Index of industrial production fell in August compared to July 2009. Total credit economy in September this year, virtually unchanged. Thus, interest rate policy of Bank of Russia aimed at developing positive trends in the economy and, above all, in the credit activity of the banking sector. Follow the Bank of Russia to reduce interest rates will be determined by the need to create conditions for the expansion of credit and stimulate economic growth with the development of inflationary trends.
Rate Russia's ruble has responded to this event growing in relation to the dollar. On the interbank market has been tested by a mark 30.05. Currently, however, the dollar / ruble rebounded by 5 cents and climbed to 30.10.
No comments:
Post a Comment