The central bank cites a broad weakening of economic activity and warns of significant uncertainty over the external environment and government spending plans
Russia cut its benchmark interest rate from 15% to 14.5% on Friday, days after President Vladimir Putin sounded the alarm over the slowing economy and ordered officials to take steps to stimulate growth.
In its announcement, the Central Bank of Russia pointed to a broad weakening of economic activity and cautioned about "significant uncertainty regarding the external environment" and government spending plans.
Source: CNA
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