Russia`s Central Bank announced on Wednesday it would cut its key lending rate by 0.5 percentage points to 12% per annum from May 14, following a slowdown in consumer price growth.
The Central Bank last cut its refinancing rate by 0.5 points to 12.5% on April 24.
Interest rates on other Bank of Russia operations will also be cut by 0.5 points from May 14, the bank said.
Consumer prices in Russia grew 6% from January 1 to April 20, matching last year`s figure for the same period, according to the national statistics body Rosstat.
The government expects inflation to stay below 13% in 2009, compared to last year`s figure of 13.3%.
sections: Economics |