Russia's central bank cut interest rates on Friday amid what analysts called more "aggressive" calls for monetary easing.
The central bank cut its key interest rate by 50 basis points to 10 percent on Friday, saying that it made the decision "given the inflation slowdown, in line with the forecast, decrease in inflation expectations and unstable economic activity."
The move was widely expected by economists.
Pressure has grown on the central bank for more monetary easing, but analysts think the central bank will continue its "gradual rate cut strategy" in order to stabilize the rate of inflation to 4 percent by 2017 (it stood at 6.6 percent, as of September).
The central bank itself warned that it was unlikely to cut rates again before the end of the year.
"For the trend towards sustainable decline in inflation to strengthen, according to the Bank of Russia's estimates, the current value of the key rate needs to be maintained till end-2016 with its further possible cuts in 2017 in the first or second quarter."
The bank forecast that annual consumer price growth would stand at 4.5 percent in September 2017 and would then go down to the 4 percent target in late 2017. "When making its key rate decisions in the coming months, the Bank of Russia will assess inflation risks alongside economy and inflation dynamics' consistence with the baseline forecast," it said.