Bank of Russia elects to reduce key interest rate by 25 bps to 10½%

By Richard Connell

New York, Sept. 14 - The Bank of Russia cut its key lending interest rate by 25 basis points to 10½% at its meeting on Monday, according to information released on its web site.

The cut continued a trend of smaller reductions in the interest rate, as the bank had lowered the rate by 50 bps in its four previous reductions prior to the August reduction of 25 bps.

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