Reuters: Russia to cut rates anew amid slow growth


Reuters: Russia to cut rates anew amid slow growth

Russia is expected to cut interest rates some more for this year as its economic growth is still at a slow-pace, according to a poll conducted by Reuters on Monday.

Rate cut expectations were well-taken by the central bank of Russia that already cut the key rate to 7% in October because of the slowing inflation.

Russia’s central bank will hold its meeting on Oct. 25 and December 13 to set rates and announce rate cuts.

According to the poll, Russia’s inflation rate is at 4.2% in 2019. The central bank aims to keep the inflation rate within the striking distance at 4%.

Earlier, experts predicted that Russia’s economy would expand by 1% in 2019. On Monday, the rouble’s exchange rates as set by the central bank were 64.42/dollar and 70.32/euro.

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