The Hindu Business Line

Russian central bank holds rate

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Russia’s central bank kept its key interest rate unchanged at 10 per cent on Friday and said it will consider cutting rates in the first half of 2017 as inflation risks subside. As a sign of caution, the central bank dropped its previous reference to a possible rate cut in the first or second quarter of next year. It said the potential for rate cuts was limited in the near future. “As the trend towards a sustainabl­e decline in consumer price growth takes root, the Bank of Russia will consider an opportunit­y of cutting the key rate in the first half of 2017,” it said in a statement.

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