The Central Bank of Russia lowers rates and forecast for economic growth in 2017, basing its forecast on oil priced at $40 per barrel. Photo by DyMax/Shutterstock MOSCOW, Sept. 16 (UPI) — The Russian Central Bank said Friday it was lowering its key rate because of the potential for slow economic growth and oil priced around $40 per barrel. For the first time since June, the bank said it lowered its key rate by a half percent to 10 percent, saying it was forecasting “unstable economic activity.” It’s possible for the Russian economy to expand this year, but the bank said gross domestic product likely won’t increase by more than 1 percent next year. “This forecast is based on the conservative assumptions of sluggish growth in global economy, average annual oil price staying around $40 per barrel and persistent structural constraints for the Russian economic development,” the bank said […]