Bank of Russia lowers key lending interest rate by 25 bps to 8¾%

By Richard Connell

New York, Dec. 31 - The Bank of Russia cut its refinancing interest rate by 25 basis points to 8¾% at it meeting on Dec. 25, according to information released on the bank's web site.

The new rate marks a third consecutive historic low for the refinancing rate.

The bank has cut the rate 10 times since April 24, 2009 by a total of 425 bps.

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