: :inin Kyiv (EET)

Russian Central Bank Cuts Key Interest Rate to Help Economy


MOSCOW— Russia’s central bank cut its key interest rate on Friday by one percentage point to 14 percent in an attempt to support the economy, which is sliding into a brutal recession.
It is the second interest rate cut in as many months as the Central Bank reverses some of the sharp rate increases it made in December — when it hiked them from 10.5 percent to 17 percent — to support the then-collapsing ruble. Higher rates tend to bolster a currency but hurt the economy by making borrowing more expensive.
The Central Bank said in a statement Friday it cut the …read more

Source: The Epoch Times

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