And shifting to Russia.
The country's central bank has slashed its benchmark interest rate by a percentage point... to 14 percent.
In a statement released Friday, the bank said... the decision to reduce the annual base rate from 15 percent reflected what it called a "significant cooling of the economy."
It also defended that the widely-expected move would not pose an additional threat of raising inflationary pressure.
Russia has been steadily rolling back its key rate as the rouble is stabilizing after losing nearly half its value last year.
The country's central bank has slashed its benchmark interest rate by a percentage point... to 14 percent.
In a statement released Friday, the bank said... the decision to reduce the annual base rate from 15 percent reflected what it called a "significant cooling of the economy."
It also defended that the widely-expected move would not pose an additional threat of raising inflationary pressure.
Russia has been steadily rolling back its key rate as the rouble is stabilizing after losing nearly half its value last year.
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