The Russian central bank has dropped its key interest rate from 17% to 15% as the outlook for the country's economy in weakens. The Bank of Russia hikes interest rates by 6.5% last month in a shock decision that came at 1am local time. The measure was intended to head off a collapse in the value of the ruble, which fell to an all-time-low of 80 rubles to the dollar and 100 rubles to the euro in December.
Russian Central Bank Slashes Interest Rates As The Economy Weakens
Tomas Hirst, Business Insider
Fri, 01/30/2015 - 3:37am
Topics: junk ukraine board directors economic development minister alexei ulyukayev world economic outlook gazprombank in an association regional banks nabiullina bnp paribas bbb energy-related kazakhstan s&p join russia bank december january cbr s&p economy weakens interest rates ruble key inflation growth country prices consumer fell decision expected week hike rubles year dollar institutions caused price companies collapsing downgrading stabilization ongoing time oil sharp debt emphasis target earlier month expects sovereign added foreign situation market increase
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