Economics
Russia Lowers Key Rate to 14% as Inflation Eases Amid Slump
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Russia’s central bank lowered its main interest rate and signaled more policy easing ahead if inflation continues to ease as the economy buckles under low oil prices and sanctions over Ukraine.
The one-week auction rate was cut by one percentage point to 14 percent, the central bank said in a statement on its website Friday. Seventeen of 32 economists in a Bloomberg survey predicted the move, with nine seeing no change and five forecasting a bigger reduction. Another analyst predicted a half-point cut.