Russia's central bank on Friday cut its lending rate by 0.25 percentage point to 4.25 percent to support vulnerable sectors of the economy amid the COVID-19 pandemic.
The country's gross domestic product will likely decrease by 4.5-5.5 percent this year, but the economy will recover to a growth of 3.5-4.5 percent in 2021, the bank said in a statement.
Year-on-year inflation rose to 3.2 percent in June from 3 percent in May, which was largely due to an increase in fruit and vegetable prices, it said.
Inflation will reach 3.7-4.2 percent in 2020 and 3.5-4 percent in 2021, the bank predicted.
Mumbai BMC Elections 2026: 44-Year-Old Teacher Shocked After Being Told Vote Already Cast In Her Name At Govandi Booth
Bombay HC Upholds ₹129-Crore Arbitral Award, Gives Andheri Redeveloper Final Chance To Secure Occupation Certificate
Mumbai BMC Elections 2026: Voter Turnout Recorded Below 55%, Counting To Begin On January 16
ISPL Season 3: Chennai Singams Move To Top Of Table With Big Win Over Falcon Risers Hyderabad; Tiigers Of Kolkata Edge Bengaluru Strikers In Low-Scoring Thriller
