Sergel Ignatyev left rates unchanged at his last meeting as the head of Russia's central bank,...

|By:, SA News Editor

Sergel Ignatyev left rates unchanged at his last meeting as the head of Russia's central bank, the ninth meeting in a row without action. Ignatyev's successor Elvira Nabiullina will likely adopt a more dovish approach as early as July's meeting as Vladimir Putin says the current pace of economic growth "is below the level needed for stable development." Russian stocks (RSX) pared gains to trade negative following the news.