Thursday, April 30, 2015

BREAKING NEWS FROM RUSSIA - BREAKING NEWS FROM RUSSIA


Russian Central Bank cuts key rate to 12.5%, cites risks of economic cooling

The banking regulator has cut the benchmark interest rate to 12.5 percent from 14 percent, saying inflation and risks to the ruble have subsided while economic growth is suffering.
The 150 basis point cut marks the third reduction in interest rates this year as the regulator said there are “persistent risks of considerable” economic cooling.

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