Russia eases amid Middle East conflict uncertainty
Central bank says it is too soon to estimate war’s likely impact on domestic economy
The Bank of Russia has eased policy, citing a moderation in both inflation and domestic demand. However, it added that the conflict in the Middle East had introduced additional uncertainty and that the impact on the economy remained unclear.
In a statement today (March 20), the central bank said it had cut rates by 50 basis points to 15%. Annual inflation stood at 5.9% as of March 16. This compared with the 6.3% recorded in the run-up to its decision in February, when it also eased by 50bp. The
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