Ruble slightly strengthens after Bank of Russia’s decision to lower key rate to 7.5% – Moscow Stock Exchange

TASS Russian News Agency | Jun 14, 2019 at 3:31 PM

MOSCOW, June 14. /TASS /.The ruble slightly strengthens against the dollar and the euro on the Moscow Stock Exchange after Bank of Russia's decision to lower key rate by 25 pp per annum, for the first time since March 2018, according to the Moscow Exchange data as of Moscow 13:33 on Friday.

After the Central Bank announced its decision, the dollar fell by 0.34% compared to the level of previous trading, to 64.36 rubles, the euro fell by 0.42% to 72.51 rubles.

In its decision to reduce the key rate, the regulator noted a slowdown in annual inflation and a decrease in pro-inflation risks. At the same time, the Central Bank indicated that the growth of the Russian economy in the first half of 2019 is below expectations, and lowered the forecast for GDP growth for 2019 from 1.2-1.7% to 1 -1.5%.