MOSCOW: Russia’s central bank has delivered its third interest-rate reduction in just over a month and says borrowing costs can fall further still, halting a rally in the ruble as it unwinds the financial defences in place since the invasion of Ukraine.
The Bank of Russia lowered its benchmark to 11% from 14% yesterday at an extraordinary meeting it announced only a day earlier.
Already a subscriber? Log in.
Subscribe to win RM50 Touch 'n Go e-Voucher! More Info
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!