Russia’s central bank cut its key interest rate by 50 basis points on Friday, amid signs of renewed weakness in the country’s currency, the ruble . The move by Russia’s Central Bank (CBR) was as expected, according to a poll of analysts by Reuters, and eases the pace of cuts to its key interest rate. In a statement, the bank said it took the decision “taking into account that the balance of risks shifts towards the considerable economy cooling despite a slight increase in inflation risks.” The bank also forecast the Russian economy could weaken further. “Major macroeconomic indicators demonstrate further economy cooling. The Bank of Russia estimates gross domestic product (GDP) decrease in the second quarter of 2015 compared with the similar quarter last year to be more significant than that in the first quarter of 2015.” “The economic situation in Russia will further depend on the dynamics […]