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Central Bank cuts key rate again
The Bank of Russia has decided to reduce its key rate by 25 basis points to 6,25% per annum. This decline was the fifth in a year.
The Central Bank decided to lower the rate due to the fact that the slowdown in inflation is faster than predicted. According to the press service of the regulator, the price expectations of enterprises as a whole have not changed, and the growth rate of the Russian economy in the third quarter increased.
At the same time, according to the Bank of Russia, in the short term, disinflationary risks will prevail over proinflationary risks. According to the forecasts of the Central Bank, by the end of 2020, annual inflation will be 3,5-4,0% and will remain close to 4% in the future.