Bank of Russia Cuts 2015 Economic Forecast to Show No Growth - Bloomberg:
"Russia’s central bank cut its base-case economic forecast for next year to show no growth, assuming sanctions remain in place and oil averages $95 a barrel.
The regulator also pushed back its medium-term inflation target of 4 percent to 2017 from 2016, according to a revised monetary policy plan for 2015-17 released today. The base-case scenario sees sanctions lasting through the end of 2017.
Russia’s decision to increase its key rate this year has helped contain the ruble’s drop against the dollar, which would have been 10 percent greater if no action had been taken, First Deputy Governor Ksenia Yudaeva said in an e-mailed statement."
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