Russia’s central bank on Friday cut its key rate by 0.25 points to 4.25 percent—its lowest in recent
history—to speed economic recovery after coronavirus lockdowns.
The bank cited fears of “considerable” disinflationary pressures stemming from global virus restrictions in a statement announcing the cut. “The recovery of the global and Russian economies will be gradual” even though easing restrictions have revived economic activity, the bank said. It predicted that inflation could fall below the target 4.0 percent in 2021 to between 3.5 and 4.0 percent before stabilising around 4.0 percent later on. – APP