Russian inflation to continue rising due to base effect, central bank says

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FILE PHOTO: A Russian state flag flies over the Central Bank headquarters in Moscow

(Reuters) – Annual inflation will continue to rise due to the base effect, the Russian central bank said on Friday, adding that tightening of monetary conditions already in place will continue to limit pro-inflationary risks.

On Friday, the central bank decided to cut its key rate by 300 basis points to 17% from April 11.

(Reporting by Reuters; Editing by Andrew Heavens)

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