CBR stays on hold


Russia’s central bank kept its main interest rate unchanged on Friday morning, but signaled that it would cut rates in the coming months with an expected slowdown in inflation rates.
Policymakers at the bank kept the main lending rate on hold at 11 percent Friday morning. This tallied with a Bloomberg poll of economists. However, a sizable minority in the poll had predicted a rate cut of 50 basis points.
This sizable minority is likely to increase with the bank highlighting that it would make a move in the near future. It said Friday that it would be guided by any alterations in the balance between a cooling economy and consumer price growth.
However, the Russian stocks remained stable despite the decision.