Article 4WJW Russia cuts interest rate to 14% amid fears over economy

Russia cuts interest rate to 14% amid fears over economy

by
Reuters
from on (#4WJW)

Central bank lowers rate by one point, continuing easing cycle begun in January

The Russian central bank has cut interest rates by one percentage point, sending a strong signal that it sees the rapidly declining economy as a more serious worry than high inflation.

The bank cut its main interest rate to 14%, continuing an easing cycle that began in January when it unexpectedly cut the rate by two points.

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