MOSCOW - The Russian central bank cut its key interest rate on Friday and said one or two more cuts were possible later this year as Russia faces sluggish economic growth and slowing inflation.
Governor Elvira Nabiullina said two more rate cuts were possible this year if the central bank does not face “any negative surprises.” “If the situation develops in line with the baseline forecast, the Bank of Russia admits the possibility of further key rate reduction at one of the upcoming Board of Directors’ meetings and a transition to neutral monetary policy until mid-2020.”
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