According to a Reuters survey released on Monday, the Bank of Russia is expected to cut the target interest rate to 8% on Friday, the sixth time in the year.

The 22 analysts and economists interviewed all said that they expect the Bank of Russia to lower the index one-cycle repurchase rate by 25 basis points from the current 8.25% at the year-end meeting.

However, expectations of another interest rate cut have been digested by the market. As the annual rate of inflation has continued to decline over the past few months, it hit a new low of 2.5% since the collapse of the Soviet Union in November, which is lower than the central bank's ultimate target of 4%.

The Bank of Russia will announce the interest rate decision at 1030GMT on December 15 and hold a press conference at 1200GMT. (End)