重大突发！莫斯科交易所暂停交易，原因未明！

Group 1 - The Moscow Exchange suspended trading on September 13 without providing a reason for the halt [1] - The Central Bank of Russia lowered the key interest rate by 100 basis points to 17.00% on September 12, which was less than expected despite calls for more aggressive easing due to economic slowdown [1] - The Central Bank's decision reflects a cautious approach to monetary policy, with expectations of maintaining tight conditions until inflation returns to target levels by 2026 [2] Group 2 - The Central Bank projects inflation to decrease to 6.0%-7.0% this year, with a target of 4.0% by 2026, indicating a long-term commitment to tight monetary policy [2] - Recent data shows a decline in inflation indicators, with the overall inflation rate dropping from 8.2% in Q1 2025 to 4.8% in Q2 2025 [2] - The labor market is showing signs of easing, with a decrease in the number of companies reporting staff shortages, although wage growth still exceeds productivity [3] Group 3 - Credit expansion is slowing compared to previous years, with consumer loans contracting while mortgage and corporate loans are experiencing moderate growth [3] - The Central Bank acknowledges that inflation risks remain prevalent, but also considers the risk of deflation due to faster-than-expected cooling of credit and demand [3][4] - The Central Bank emphasizes the importance of fiscal policy in its forecasts, indicating potential adjustments to interest rate paths if fiscal policies change [3][4]