Bank of Russia Sets Key Rate At 9.25%

The Bank of Russia lowered its key rate by 0.5% - to 9.25%. The central bank of the Russian Federation uses the key interest rate to manage the rate of inflation. As they approach or move away from the desired target rate of inflation the main tool to be applied is the key interest rate. This rate has an influence on all things Russian, both domestic and matters of trade.

We can expect to see a stronger ruble going forward attributed to stable inflation domestically and rising oil prices.