The Central Bank of Russia cut its policy rate

The Central Bank of Russia has decided to reduce its policy rate by 0.25 percent on September 6, 2019, and reach seven percent. The decision is aimed at maintaining a stable level of ruble. As a result, the Central Bank of Russia has reduced its interest rate for the third time since 2019.

The policy rate is 7 percent, benefiting people with loans and mortgages, but they are less profitable to those with savings. Inflation in the spring this year has dropped from 5.3 to 5.1 and the summer has dropped to 4.3 percent today.

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