Bank of Russia cuts rates and warns of slowing growth

Bank of Russia
The Bank of Russia

Russia’s central bank lowered its policy rate for the second time this year on July 26, warning of slowing GDP growth.

The Bank of Russia’s board, which acts as its monetary policy committee, cut the one-week repo rate by 25 basis points to 7.25%. The board said in a statement that while Russian inflation was continuing to slow down, “inflation expectations remain elevated”. This latest decision followed the central bank’s earlier 25bp cut on June 14.

The board said it might further ease

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