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Russian central bank leaves key interest rate on hold

MOSCOW, Dec 11 (Reuters) - Russia’s central bank left its main interest rate on hold at 11 percent on Friday, saying it recognised growing inflation risks and that risks of economic cooling remained.

“As inflation slows down in line with the forecast and on condition inflation risks recede, the Bank of Russia will continue with a downward revision of its key rate, to be decided at one of its forthcoming Board of Directors meetings,” the bank said in a statement on its website.

Economists had expected the central bank to leave its one-week minimum auction repo rate unchanged, extending a pause in the monetary easing cycle. (Reporting by Alexander Winning, Katya Golubkova, Maria Kiselyova, Elena Fabrichnaya and Oksana Kobzeva; Editing by Christian Lowe)

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