October 14, 2019 / 9:33 AM / a month ago

Russian c.bank: lower U.S. rates to justify rate cut in Russia

MOSCOW, Oct 14 (Reuters) - The Russian central bank expects the U.S. Fed to lower its rates twice in the first half of 2020, which should justify rate cuts in Russia, monetary policy department chief, Alexei Zabotkin, said on Monday.

Zabotkin said the next rate cut in Russia will take place assoon as inflation has slowed, which should prompt the central bank to lower its inflation forecasts at the next rate-setting meeting on Oct. 25. (Reporting by Elena Fabrichnaya Writing by Andrey Ostroukh; Editing by Toby Chopra)

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