The Central Bank of Russia lowered its key interest rate to 11%

The Board of Directors of the Bank of Russia on July 31 cut its benchmark interest rate from 11.5% to 11% per annum.
The Bank has decided, taking into account the risk of displacement in the direction of the cooling of the economy, despite the increase in inflation risks.
According to the forecast of the Central Bank, consumer prices will slow growth in low domestic demand. Annual inflation next year will be less than 7%, and in 2017 will fall to 4%.
In the future, the level of the key rate, the Bank of Russia will change depending on changes in the balance of inflationary risks and risks of the cooling economy, the press service of the Central Bank.
Wrote portal "Kuban 24", experts predicted that the rate cut will be symbolic of the Central Bank, stronger changes may occur in the fall.