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The Russian central bank has cut its key interest rate by a half a percentage point to 15.5% on Friday, in a surprise move as the country tries to shore up its slowing economy.
The move was predicted by just eight of the 24 analysts polled by Reuters ahead of the decision.
The bank said in a statement:
The Bank of Russia will assess the need for a further key rate cut at its upcoming meetings depending on the sustainability of the inflation slowdown and the dynamics of inflation expectations.
