“Bank of Russia Cuts Key Interest Rate by 100 Basis Points in Effort to Boost Economic Recovery, Led by Elvira Nabiullina”

The Bank of Russia, led by Elvira Nabiullina, has reduced its benchmark interest rate by 100 basis points to 17.00 percent from 18.00 percent. This is the third rate cut this year in an effort to address the impact of high lending rates on business activity and economic recovery.

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