Today, the Bank of Russia released its key rate, reducing it to 10.50% p.a. The key rate had remained unchanged since August 2015.
“The Board of Directors notes the positive trends of more stable inflation, decreased inflation expectations and inflation risks against the backdrop of imminent growth recovery in the economy. Slowing inflation allows more certain reliance on sustainable inflation reduction to less than 5% in May 2017 and the 4% target in late 2017, taking into account the decision just made and the retention moderately tight monetary policy. The Bank of Russia will consider the possibility of a further rate cut based on estimates for inflation risks and alignment of inflation decline with the forecast trajectory.”
We are happy to announce the results of TRDATA’s Forecast. The first user to correctly predict the key rate was Alexander Prisyazhnuk (Promsvyazbank). An additional 3 users also provided correct predictions:
Vitaliy Zotkin (Lanta Bank)
Ivan Shtyrov (Solo trader)
Inna Morozova (Solo trader)
Sixteen users took part in TRDATA’s Forecast. Of these users, 31% placed predictions on a key rate below 11%, while 69% of users predicted the key rate would remain unchanged.
Bank of Russia’s next board meeting will be held on July 29th, so make sure to place your key rate predictions on TRDATA before then. Congratulations to all who placed the correct predictions and thanks for participating on our platform!