MOSCOW- Russia’s central bank cut Friday its key interest rate by half a percentage point to 10 percent, but warned it couldn’t provide another quick jolt to jump-start stalled economic growth, reports BSS.
The Bank of Russia said in a statement that the cut, the first since June and widely expected by analysts, was possible thanks to a “decrease in inflation expectations and unstable economic activity”.
However the central bank made clear it intends now to hold off on another cut until early next year at the earliest.
Russia’s energy-reliant economy is currently mired in the longest recession of President Vladimir Putin’s 16-year …read more
Source: The Bangladesh Today
