Russia’s central bank on Friday cut its key interest rate to 8.5%, the fourth reductions this year as inflation hits a record low, AFP reported. The bank said it took the decision to slice 50 points off the rate after “inflation expectations resumed their decline”. In a statement, the Russian bank said it would “continue to conduct a moderately tight monetary policy” in order to maintain inflation close to 4%. But it also said that “during the next two quarters, the Bank of Russia deems it possible to cut the key rate further.”
Add new comment
Read our comment policy before posting your viewpoints