Russia's central bank cuts key rate to 9.25% from 9.75%
Russia's central bank
Moscow - Arab Today
Russia's central bank on Friday cut its key rate to 9.25 percent from 9.75 percent as authorities try to breathe more life into the country's economic recovery on the back of lower inflation.
"The Bank of Russia Board of Directors decided to reduce the key rate to 9.25% per annum," the bank said in a statement, explaining that "inflation is moving towards the target, inflation expectations are still declining and economic activity is recovering."
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