World Economy

Russia Cuts Interest Rate

Russia Cuts Interest RateRussia Cuts Interest Rate

The Russian Central Bank has lowered the key interest rate to 14% from 15%, and it’s ready to cut the key interest rate further as inflation risks in Russia are weakening,  the bank said in a press release on Friday, Tass said. The central bank announced that Russia’s annual inflation is expected to drop to 9% by March 2016.