The Russian ruble weakened across major currencies on Friday after the country's central bank dropped interest rates 25 basis points to 6%. "Risks of a substantial global economic slowdown persist. Disinflationary risks still exceed pro-inflationary risks over the short-term horizon," said the Bank of Russia in a statement. The bank expects annual inflation will come in at 3.5% to 4% in 2020 and close to 4%, and said it holds open the prospect of further cuts if its baseline forecast develops. The ruble dropped 0.7% against the dollar to 63.859 rubles and fell 0.5% against the euro to 69.905 rubles.