Briefly

RUSSIA

Economy expands by 5.5% in 3rd quarter

Russia's economy grew for a second consecutive quarter, official data showed on Wednesday. The economy expanded by 5.5 percent year-on-year in the third quarter, according to the federal statistics agency. Economy Minister Maxim Reshetnikov said last week annual growth should come in at 3 percent. Russia's central bank will be ready to raise the key interest rate again if there are no signs that inflation is slowing down, the bank's Deputy Governor Olga Polyakova said on Wednesday. Russia last raised the key interest rate by 2 percentage points to 15 percent at the end of October.