* This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine
MOSCOW, Sept 15 (Reuters) - The rouble weakened on Thursday, after hitting a more than three-week high against the dollar in early trade, with the market focused on Friday's central bank rate decision and a meeting between Russian and Chinese leaders in Uzbekistan.
Russian President Vladimir Putin said he understood Xi Jinping had questions and concerns about the situation in Ukraine, but praised China's leader for what he said was a "balanced" position on the conflict.
By 1505 GMT, the rouble was 0.3% weaker against the dollar at 60.05. It earlier hit 59.45, its strongest since Aug. 22. It was down 0.1% at 60.02 versus the euro .
This year, the rouble has been the world's best-performing currency, buoyed by emergency capital controls rolled out by the central bank to halt a mass sell-off after Feb. 24 when Russia began what it calls "a special military operation" in Ukraine.
Russian consumer prices fell for a 10th straight week, data showed on Wednesday, a decline that may cement expectations that the Bank of Russia will cut its key interest rate for the sixth time this year on Friday.
A majority of economists polled by Reuters expect the central bank to cut by 50 basis points to 7.5%, to encourage lending as inflation continues to slow.
However, other Wednesday data showed Russian households' inflationary expectations, an indicator the central bank watches closely, rose for the second month running in September, something that could lead to a more cautious rate move.
"We had expected a rate cut on Friday of 100 basis points before publication, however now we are leaning towards a cut of only 50 basis points," said Igor Rapokhin, chief debt market strategist at SberCIB Investment Research.
"At the same time, we are maintaining our forecast that the key rate will be 6.5% at the end of the year."
Russian stock indexes were mixed.
The dollar-denominated RTS index was unchanged at 1,282.4 points. The rouble-based MOEX Russian index was 0.4% higher at 2,444.6 points.
Investors were waiting for news from Uzbekistan, said Veles Capital analysts, where the Shanghai Cooperation Organisation (SCO), a regional security group, was gathering.
"For Russian companies, the search for new, more reliable partners is a positive factor," said Veles Capital. (Reporting by Alexander Marrow Editing by Peter Graff and Mark Potter)
