Russian central bank unexpectedly cuts key rate to 14% from 17%

MOSCOW, Apr 29 (PRIME) -- Russia’s central bank has unexpectedly cut its key rate by 3 percentage points to 14% annually, the regulator said in a statement on Friday.

“The external conditions for the Russian economy remain difficult and restrict economic activity significantly. The risks for pricing and financial stability have stopped growing, which created conditions for reduction of the key rate,” the authority said.

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