MOSCOW, March 20 (Xinhua) -- Russia's central bank on Friday cut its key interest rate for the seventh consecutive time by 50 basis points to 15 percent per annum.
The central bank said the economy is approaching a balanced growth path, with price growth slowing in February after a temporary increase in January.
The regulator said it will consider further rate cuts at upcoming meetings depending on inflation trends, expectations, and risks from both domestic and external conditions, while noting increased uncertainty in the external environment.
According to the Bank of Russia's forecast, annual inflation is expected to decline to 4.5-5.5 percent in 2026, and return to target levels thereafter. ■
