February 12, 2020 / 12:15 PM / 8 days ago

Russian c.bank expects moderate acceleration in GDP growth in H1 - report

MOSCOW, Feb 12 (Reuters) - Russia’s central bank expects a moderate acceleration in economic growth in the first half of 2020, a report by it analysts published on Wednesday said.

The report added that the bank sees GDP up 0.4% in the first quarter of the year compared with the fourth quarter of 2019 and that it expects recent key rate cuts to help inflation return to its 4% target by the end of the year.

The Russian central bank slashed the key rate for the sixth consecutive time last week amid slowing inflation, which as of last month stood at 2.4%.

Reporting by Elena Fabrichnaya Writing by Gabrielle Tétrault-Farber Editing by Maria Kiselyova

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