21:37, 09-Feb-2018
Russian Finance: Russian central bank cuts key rate to 7.5 pct
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Turning to Russia now. Russia's central bank cut its key interest rate to 7.5 percent on Friday. The BOR said it may continue to trim the rate this year as annual inflation remained "sustainably low".
The bank cut its key rate six times last year as inflation, once stubbornly high and at double-digit levels, slipped below its target of 4 percent. The central bank also said inflation is much less likely to exceed 4 percent in 2018. That would help the government to complete the transition from moderately tight to neutral monetary policy this year.