Russian Central Bank Cuts Key Rate to 16.5% as Economy Slows
The Russian Central Bank on Friday announced that it was cutting the key interest rate to 16.5%, down half a percentage point from 17%. The quarter-point reduction marks the fourth consecutive rate cut since June, when the bank began easing policy from a wartime peak of 21%. Analysts were split ahead of the decision. Most expected the bank to hold or cut more aggressively — underscoring uncertainty over how long tight monetary conditions can coexist with slowing output a
