| Russia Central Bank Could Cut by 100 Basis Points This Year |
| News - Eurasia |
| Written by Yelena Fabrichnaya and Toni Vorobyova (Reuters) |
| Friday, 11 September 2009 15:24 |
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MOSCOW (Reuters) - Russia's central bank could in theory reduce its benchmark interest rate by a further 100 basis points before the end of the year, first deputy chairman Alexei Ulyukayev told Reuters on Friday.
Russia has already cut the refinancing rate by a total of 225 basis points since April to 10.75 percent as it seeks to help the economy out of its first recession in a decade. "There is a theoretical possibility to lower rates by another 1 percentage point by the end of the year," Ulyukayev said in an interview at the Reuters Russia Investment Summit. |