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flag Russia cuts key interest rate to 20%, signaling economic slowdown and easing inflation pressures.

flag Russia's central bank cut its key interest rate to 20% from 21%, its highest level in two decades, as the economy slows and inflation pressures ease. flag This marks the first rate cut since September 2022. flag While inflation remains above 10%, the bank stated the economy is gradually returning to balanced growth. flag Despite the cut, monetary policy will remain tight for a long period, with the inflation target of 4% not expected to be met until next year.

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