Russia Central Bank Slashes Key Rate After December's Massive Hike

Posted on Jan 30, 2015

Russia's central bank on Friday cut its key interest rate, after raising it massively in December to shore up the ruble, in a bid to underpin economic activity that remains hurt by falling oil prices and economic sanctions. The Bank of Russia Board of Directors decided to reduce the key rate to 15.00 percent from 17.00 percent. Economists had expected the bank to retain the policy rate.

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