Russia’s central bank has lowered its key interest rate again as a strengthening rouble eased inflationary pressures.
The bank cut the rate on Thursday to 11 per cent from 14 per cent, the third time it has lowered borrowing costs in as many months. Rates were at a record of 20 per cent in early March when the rouble plummeted against the dollar in the initial days of the Russia-Ukraine conflict.
The currency has since doubled its value against the dollar, which sold for Rbs56 on Thursday on the official central bank exchange rate.
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