FRANKFURT, Germany (AP) — Russia's central bank made a smaller than usual interest rate cut on Friday, a compromise move to support stagnating economic growth even as inflation fueled by
FRANKFURT, Germany (AP) — Russia’s central bank made a smaller than usual interest rate cut on Friday, a compromise move to support stagnating economic growth even as inflation fueled by war spending remains higher than the bank’s target.
The quarter-point cut to 14% shows the bank slowing its pace of rate cuts from a peak of 21% last year. The bank had been cutting by at least a half-percentage point until a quarter-point cut on June 19.
Russia's central bank gingerly cuts rates, caught between business complaints and inflation
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