Investing.com - The Central Bank of Russia lowered its benchmark interest rate on Monday, in an effort to boost economic activity amid lackluster growth and as deflation fears receded.
The CBR said it was cutting the benchmark interest rate by 100 basis points to 11.5% from 12.5%, broadly in line with market expectations.
In a statement, the bank said it is "ready to continue cutting the key rate as consumer-price growth declines further in compliance with the forecast, but the potential of monetary policy easing will be limited by inflation risks in the next few months."
USD/RUB fell to 54.80 following the announcement from 55.05 earlier before recovering to trade at 55.07.
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Russia's central bank lowers key interest rate to 11.5% from 12.5%
Published 06/15/2015, 06:53 AM
Russia's central bank lowers key interest rate to 11.5% from 12.5%
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