Russia Central Bank Lowers Rate Again

Russia central bank on Friday cut its key interest rate for the fourth straight session amid persistently slowing inflation and subdued growth and signaled that it is will consider further easing in future. The Board of Directors, led by Governor Elvira Nabiullina, decided to cut the key rate by 50 basis points to 6.5 percent, the Bank of Russia said in a statement.

Economists had forecast a reduction to 6.75 percent.

The previous reduction in the rate was a 25 basis points cut in September.

The material has been provided by InstaForex Company –