MOSCOW (Reuters) -Russian Central Bank Governor Elvira Nabiullina and her deputy Alexei Zabotkin addressed a news conference on Friday after the central bank cut its key rate to 20% from 21%. They spoke in Russian and the quotes below were translated into English by Reuters.

Russia’s central bank cut interest rates by 100 basis points on Friday, bringing the key rate down to 20% for the first time since September 2022.

Russia’s central bank cut its key interest by a full percentage point on Friday to 20 per cent, its first cut since 2022, as Vladimir Putin’s war economy cools. “Domestic demand continues to outstrip the economy’s capacity to expand the supply of goods and services,