Bank of Russia Signals Limits to More Easing After Four Cuts
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The Bank of Russia said inflation risks will hinder further monetary easing after cutting its key interest rate for the fourth time this year to counter a looming recession.
The one-week auction rate was cut by one percentage point to 11.5 percent, the central bank said in a statement on its website Monday. Twenty-one of 35 economists in a Bloomberg survey predicted the move, with other forecasts ranging from a reduction of 150 basis points to a 50 basis-point cut.