Russia cuts for sixth time in five months
The Bank of Russia cut its benchmark refinancing rate by a quarter of a percentage point to 10.5% on Monday.
The cut will take effect on Tuesday and the central bank's repo rate will also be reduced by 25 basis points to 9.5%.
Today's cut is the sixth since April. The previous cut, also a quarter-point loosening, occurred in early August.
Inflation stagnated in August, though prices have risen by 8.1% since the start of the year. "In view of limited domestic demand and money-supply growth, we
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