Economics
Bank of Russia Resumes Easing With First Rate Cut Since July
- Economists were divided after rate pause lasted almost a year
- Risks of missing inflation target declined, central bank says
Bank of Russia Resumes Easing Cycle With Rate Cut
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Russia’s central bank stopped short of signaling the start of a new easing cycle after reducing borrowing costs for the first time in almost a year.
The one-week auction rate was cut to 10.5 percent from 11 percent, according to a statement on Friday. That was forecast by 22 of 43 economists in a Bloomberg survey, with the rest seeing no change. Policy makers will “consider the possibility” of further easing if inflation is in line with forecasts and based on estimates of risks to price growth, the central bank said.