MOSCOW (Reuters) - Russian companies surveyed by the central bank expect inflation in 2025 of 10.7%, more than double the official forecast, and named labour shortages as one of the main factors stopping them expanding production, the central bank said on Friday.

The central bank reduced its one-week repo rate to 45% from 47.5% as a cycle of higher borrowing costs bears fruit in cooler price rises.

The Reserve Bank’s monetary policy committee is expected to announce another repo rate cut of 25 basis points on Thursday despite a slight uptick in inflation in December, economists say.