world-economy

Russia Set for Ninth Consecutive Rate Cut as Inflation Moderates

The Bank of Russia is expected to reduce its benchmark interest rate by 50 basis points to 14 percent on Friday, marking the ninth consecutive cut in its monetary easing cycle. Ten of eleven economists surveyed anticipated the reduction, with only one forecasting no change. Inflation pressures have eased partly due to geopolitical developments in the Middle East that have benefited the Kremlin's economic position. The central bank has been lowering rates since beginning its easing campaign a year ago from a record 21 percent, delivering cuts at every meeting since the cycle commenced. The rate reductions reflect improving price stability in the Russian economy.