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Russia's central bank cuts key interest rate to 17 percent

2022-04-08T10:52:13.653Z


Moscow, SANA- The Russian Central Bank announced today the reduction of the main interest rate to the level of 17 percent annually by


Moscow-Sana

Today, the Russian Central Bank announced a cut in the key interest rate to the level of 17 percent annually by 300 basis points.

A statement issued by the bank stated that the new decision will enter into force on the 11th of April.

The Russian Central Bank suggested making further interest rate cuts in the future, noting that the external conditions of the Russian economy are still difficult and significantly limit economic activity.

On February 28, the Russian Central Bank raised the main interest rate to a historical level of 20 percent to support the Russian currency.

Experts pointed out that the Russian Central Bank's decision to cut the interest rate is evidence of its success in ensuring financial stability in Russia.

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Source: sena

All business articles on 2022-04-08

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