The Russian Central Bank decreased the key rate from 14 pre cent to 11 per cent on Thursday.
"The Bank of Russia Board of Directors decided to cut the key rate by 300 basis points to 11.00 pre cent per annum effective from 27 May 2022," the regulator said in a statement.
The bank added that it "holds open the prospect of key rate reduction at its upcoming meetings." (ANI/Sputnik)
( With inputs from ANI )
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