Bloomberg The Bank of Russia surprised the market with a cut in its key rate that was double what economists expected, but warned that it’s not shifting into higher gear on easing. A deal between the Organization of Petroleum Exporting Countries and its allies to maintain oil production cuts until the end of 2018 was a key factor lifting the …

Bloomberg Spain kicked off the race to lock down the European Central Bank vice presidency after Prime Minister Mariano Rajoy confirmed the nation will bid for the post. The Spanish premier said the country is well-placed to present “a female or male” candidate for the role set to become vacant after the current No. 2, Portugal’s Vitor Constancio, retires in …

Bloomberg The Bank of Spain cut its estimate for economic growth for 2018 and 2019 because of the impact of political uncertainty related to Catalonia’s drive for independence. Growth is set to slow to 2.4 percent next year from a previous estimate of 2.5 percent in September before the secession crisis erupted. The economy will grow 2.1 percent in 2019 …