UPDATE 1-Russian rouble edges up on higher oil prices, c.bank rate cut

(Recasts following c.bank rate decision)

MOSCOW, March 23 (Reuters) - The rouble edged higher on Friday, supported by higher oil prices and a decision by the Russian central bank to cut its key interest rate.

The central bank met market expectations by cutting its key interest rate by 25 basis points to 7.25 percent on Friday, and said it would complete its monetary easing cycle this year.

At 1425 GMT, following the central bank decision, the rouble was 0.1 percent stronger against the dollar at 57.19 and had lost 0.21 percent to trade at 70.58 versus the euro.

Brent crude oil, a global benchmark for Russia's main export, was up 1.42 percent at $69.89 a barrel on the back of Saudi plans for global production cuts to be extended into 2019.

"The (central bank) decision was in line with our view," analysts at Renaissance Capital said in a note.

"We expect two more 25 basis point rate cuts at the 27 April and 15 June meetings, but reiterate our view that the Central Bank of Russia will stop the cutting cycle with a 6.75 percent terminal rate achieved in June 2018."

Kirill Tremasov, former head of the economy ministry's macroeconomic forecasting department, said a lack of information about the government's plans following last Sunday's presidential election had prompted the central bank to be more cautious.

"We still have complete uncertainty about future economic policy; the plans announced so far to accelerate growth look mysterious, and I would like to know what changes in fiscal policy are waiting for us," he said on his Telegram channel.

Russian stock indexes slipped.

The dollar-denominated RTS index was down 0.25 percent to 1,255.77 points. The rouble-based MOEX Russian index was 0.30 percent lower at 2,278.93 points.

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(Reporting by Jack Stubbs; Editing by Gareth Jones)