«Support of Russia» expects a further reduction in the key rate of the Central Bank

© RIA Novosti / Natalia to Seliverstova in photobacteria Central Bank of Russia. Archival photo«Support of Russia» expects a further reduction in the key rate of the Central Bank© RIA Novosti / Natalia to Seliverstova the image Bank

The decrease in the rate of the Central Bank of Russia to 6% would help to revive the investment processes in the economy, said RIA Novosti head of public organization of small and medium entrepreneurship «OPORA Russia» Alexander Kalinin.

The Bank of Russia on Friday cut the key rate on 0,25 percentage points — to 9% per annum. This is already the third decrease this year. In March, the regulator reduced the rate by 0.25 percentage points in April and by 0.5 percentage points.

«The Central Bank has achieved significant success in curbing inflation, reaching the target of 4%. But after this should be a quick reduction of the key rate, which today is twice the level of inflation», — said Kalinin.

«We believe this gap should be a maximum of 1.5 times. We expect further rate cuts of the Central Bank, to 6%. It will revive the investment processes in the economy,» he said.

According to Rosstat, inflation in Russia in annual terms in may was 4.1%, as in April. However, as noted at the beginning of June the head of the Bank of Russia Elvira Nabiullina, the regulator believes that it has achieved its goal, because the goal is to ensure low and stable inflation in the medium term.

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