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Inflation in Russia eases: Central Bank cuts interest rates
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Inflation in Russia eases: Central Bank cuts interest rates
The Russian central bank recently made a major decision to cut key interest rates, as indicators pointed to a slowdown in inflation and a decline in domestic demand. For the first time in almost three years, interest rates were cut from 21 percent to 20 percent in early June, and now, at the end of July, they have been further reduced to 18 percent. The bank’s governor, 58-year-old Elvira Nabiullina, said that they could accelerate the rate cut …
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