02 February 2015, Monday, 18:29

State Duma deputy Viktor Klimov: "Reducing the key rate by two percent by the Bank of Russia is a timely step"


UFA, 2 February 2015. /Bashinform News Agency, Galiya Nabieva/. Victor Klimov, the Deputy Chairman of the Central Auditing Commission of the All-Russia People’s Front, the Deputy Chairman of the Duma Committee for Economic Policy, Innovation and Entrepreneurship Development named cutting the key interest rate as "expected and strategically correct move" of the Central Bank.

The MP believes that the passing over the psychologically important milestone of 70 rubles to dollar should not be dramatized. "Taking into account not very significant daily fluctuations of the ruble it is not essential. This relatively calm reaction of the Exchange shows that this is the right decision", he said commenting on the stock exchange reaction.

“If the reduction gives positive results in terms of the banking sector and the real sector, then I think that the Central Bank will consistently reduce the rate to an acceptable level for all instruments of the economy over the coming months”, expert shared with his forecast.