Bank of Russia slashes key rate for third time this year ...News

The Central Bank of Russia has cut the interest rate for the third consecutive time this year to seven percent, marking another step towards decelerating inflation. The benchmark rate was cut by 25 basis points to seven percent, its lowest point since 2014, according to a statement published by the regulator on Friday. It also promised more monetary easing to come as inflation dropped closer to the bank’s four percent target, although it’s been decelerating faster than expected this year due to an early harvest and weak consumer demand. Also on rt.com Less dollars, more gold

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