MOSCOW (Oct 28): Russia's central bank kept its key interest rate unchanged at 10% on Friday, but said it might cut rates in the first or second quarter of next year. The central bank, which has twice cut its key rate this year, said in a statement on its website it would hold the key rate at 10% until the end of 2016. "The Bank of Russia will assess inflation risks and compliance of economic performance and inflation with the baseline scenario when it makes its key rate decision in the upcoming months," it said. Consumer inflation in Russia slowed to 6.2% as of late October, down from 6.4% in September. The next rate setting meeting will be accompanied by a news conference with Elvira Nabiullina, the central bank governor, and is scheduled for Dec 16.

Source: The Edge Markets October 28, 2016 11:53 UTC