MOSCOW: Russia’s central bank on Friday cut its key rate for the first time since September and raised the possibility of further cuts as the economy recovers.
The central bank announced the cut to 9.75 percent from 10 percent after a regular meeting on monetary policy. Econo-mists had been divided on whether to expect a rate cut.
The central bank last cut its interest rate by half a percentage point to 10 percent in September.
The cut comes as the “inflation slowdown overshoots the forecast, inflation expectations continue to decline and eco-nomic activity recovers,” the central bank said.
It said inflation had dropped to …read more
Source: The Manila Times
