On 31 July 2015, the Bank of Russia Board of Directors decided to reduce the key rate from 11.50 to 11.00 per cent per annum, taking into account that the balance of risks shifts towards the considerable economy cooling despite a slight increase in inflation risks. According to the Bank of Russia forecast, consumer price growth will continue to slow amid slack domestic demand. Annual inflation will fall below 7% in July 2016 and reach the 4% target in 2017. The Bank of Russia will further decide on its key rate depending on the balance of inflation risks and risks of economy cooling. Annual inflation temporarily ... (full story)