World Economy

Borrowing Costs

Borrowing CostsBorrowing Costs

Russia’s borrowing costs are high for an economy battered by falling oil prices even after an unexpected cut last week, according to the chief policy maker, Bloomberg reported. The decision to cut the benchmark rate by 200 basis points to 15% last week, keeping it higher than inflation, isn’t at odds with central bank’s the goal of restraining price growth, Bank of Russia Governor Elvira Nabiullina said.