And there was me about to switch off.
- Increasingly subdued medium term growth prospect the main reason for cut
- lower growth prospects exacerbated by prolongation of Ukraine crisis
- Also cites gradual but ingoing erosion of countries foreign exchange buffers
- Doesn’t see Russian economy contracting this year but real growth will start to decline into year end and until mid 2015
That should please Puting when he reads the news over his morning cornflakes tomorrow.
