-Russian central bank cuts interest rates further聽
Interest rates were cut by a cautious 25 basis points on Friday following the board meeting of Russia鈥檚 Central Bank
The central bank鈥檚 decision to cut its key rate to 8.25 percent from 8.5 percent came with the slowing down of annual inflation to 2.7 percent 鈥� a far lower rate than the target of 4 percent.
The bank also added that it would gradually move from a tight monetary policy to a 鈥渘eutral monetary policy鈥�.
鈥淢edium-term risks of inflation overshooting the target dominate over the risks of its persistent downward deviation,鈥� the central bank said.
The strength of the Russian ruble, which has gained value since last year, along with oil prices floating at $60 per barrel, are the main reasons behind achieving close to the inflation target. In 2015, Russia鈥檚 inflation rate reached as high as 13 percent.
Analysts predict that another 25 basis point cut is very probable at the bank鈥檚 final meeting in December.聽
Turkish tomatoes to enter Russia鈥檚 markets on Nov. 1st
Russia鈥檚 official decision on the removal of the ban on Turkish tomatoes was published last week.
According to the decree, within the amounts determined by the Russian Ministry of Agriculture, the removal of the import for Turkish tomatoes will come into effect on Wednesday, Nov. 1.
The Russian Minister Alexander Novak also recently announced that some 50 thousand tons of tomatoes would be imported from Turkey.
Furthermore, the announcement of the removal of the import ban on Turkish eggplants (aubergines) and pomegranates is expected this week.