Economic Buzz: Russia Central Bank Cuts Policy Rate To 9.5%

10 Jun 2022 , 04:49 PM

The Central Bank of Russia announced on Friday that it cut its policy rate by 150 basis points to pre-crisis level of 9.5% from 11%. In its policy statement, the central bank noted that it will consider the necessity of key rate reductions at its upcoming meetings. The Russian rouble firmed to 57.31 against the dollar, its strongest since May 25 after the central bank cut its key interest rate. Powered by Commodity Insights