Russian central bank cuts interest rate and lifts some restrictions
Russia’s central bank lowered its key policy rate by 300 basis points on April 8 and relaxed some of the other emergency measures it had implemented.
The Bank of Russia’s board announced it was cutting its key rate from 20% to 17% with effect from today (April 11). It raised the rate by 1,050 basis points on February 28, two days after the US and many western European countries imposed strict financial sanctions on the country.
The central bank also placed a number of restrictions on foreign
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