Russia Cuts Key Interest Rate to 14.5 Percent
The Bank of Russia reduced its key rate by 50 basis points while raising oil price forecasts due to the Iran war. Officials expect growth to recover later this year.
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The central bank of Russia opted for a cautious approach on Friday, reducing its key interest rate by 50 basis points to 14.5%. This decision aligned with analyst expectations but fell short of the aggressive cuts demanded by business leaders seeking to stimulate an economy that contracted by 1.8% during the first two months of the year.
