5/26, 9:38 AM (Source: TeleTrader)
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Russia's c-bank lowers key rate by 300 bps to 11%

Moscow's central bank, the Bank of Russia, has lowered its key interest rate by 300 basis points to 11%, it said on Thursday.

The inflationary pressures have eased, and it is now expected for inflation to move in the 5%-7% range during 2023, the bank said in a statement after an extraordinary meeting. In 2024, inflation is now seen as decreasing to 4%.

The next policy meeting is scheduled for June 10.

Baha Breaking News (BBN) / BU