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International Business Times
International Business Times
World

Russian Central Bank Cuts Interest Rate As Economy Slows

The rate cut comes as Russia's economy is rapidly cooling (Credit: AFP)

Russia's central bank on Friday cut its key interest rate, but warned inflation was still too high, amid growing concerns over an economic slowdown amid the Ukraine offensive.

Russia's economy is rapidly cooling, prompting warnings it could be headed for recession or stagnation, following two years of robust growth as Moscow ramped up military spending to fund its campaign.

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