By Andrey Ostroukh and Elena Fabrichnaya MOSCOW (Reuters) – The Russian central bank is expected to cut its key interest rate on Friday after its policymakers indicated that rate cuts were looming amid slowing inflation and sluggish economic growth, a Reuters poll showed on Monday. The 23 analysts and economists who took part in the poll on July 22 unanimously predicted that the central bank will lower the key rate to 7.25% at the upcoming rate-setting meeting. “We think the central bank will lower the key rate by 25 basis points at the following meeting,” said Yaroslav Lissovolik, head of Sberbank Investment Research. Central Bank Governor Elvira Nabiullina boosted expectations of a rate cut this month when she said in an interview with Reuters that the bank would like to complete the rate-cutting cycle by mid-2020, trimming the rate in small steps. At the previous rate meeting, when the bank lowered the rate for the first time since March 2018, it said one or two rate cuts were possible by the end of this year. A slowdown in consumer inflation to 4.7% in June from 5.1% in May, closer to the central bank’s target of 4%, cemented expectations of a… Read full this story
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