September 12, 2019 / 7:46 AM / 2 months ago

Russian no grounds to expect monetary policy softening

MOSCOW, Sept 12 (Reuters) - The Russian central bank’s monetary policy chief, Alexei Zabotkin, said on Thursday there were no grounds to expect that the central bank would soften its monetary policy.

The Russian central bank cut its key interest rate to 7% last week, lowering the cost of borrowing for the third time this year, and said another rate cut was possible at one of the next three board meetings. (Reporting by Katya Golubkova, writing by Maria Tsvetkova; Editing by Kevin Liffey)

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