Bank of Russia Holds Key Rate at 14%, Signals Only Modest Further Cuts
The central bank left its key rate unchanged for a second consecutive meeting and signaled borrowing costs may decline only slightly next year, with inflation expected to remain stubbornly high.
By Paul HannonRussia's central bank Friday left its key interest rate unchanged for the second straight meeting, and signaled only a slight decline in borrowing costs next year as inflation is set to remain stubbornly high.The Bank of Russia's key rate stands at 14%, having been reduced from a mid…