The Bank of Russia has room for a deeper cut to its key interest rate amid slowing inflation and growing pressure from officials and businesses to save the economy from sliding into recession.
Policymakers are poised to lower the benchmark rate on Friday for the second consecutive meeting, according to all economists surveyed by Bloomberg, with six out of ten expecting a 200 basis-point cut to 18%. One analyst anticipates an even bigger decrease, while three forecast the rate to be brought down by 100-150 basis points.